Beijing: Prime Minister Stephen Harper announced the successful completion of negotiations between Canada and China on an agreement that will facilitate increased exports of Canadian uranium to China.
The agreement is a Protocol which supplements the Agreement between the Government of Canada and the Government of the People’s Republic of China for Co-operation in the Peaceful Uses of Nuclear Energy of 1994.
“This agreement will help Canadian uranium companies to substantially increase exports to China, the world’s fastest growing market for these products,” said Prime Minister Harper. “It will generate jobs here at home while contributing to the use of clean reliable energy in China.”
The Protocol is a legally binding instrument to supplement the 1994 Agreement that will govern and facilitate the export of Canadian uranium to China, supporting China’s energy needs and Canada’s long-term economic interests. As the Protocol is in full accordance with Canada’s longstanding nuclear non-proliferation policies and obligations, it will ensure that Canadian supplied uranium is being used in China’s nuclear program strictly for peaceful, civilian purposes.
China is the world’s largest energy consumer and one of its priorities is to significantly increase its capacity to generate nuclear power. Canada is well placed to benefit from this situation as it can provide both nuclear fuel (uranium) and advanced nuclear technology.
Canada’s nuclear-energy industry generates approximately $6.6 billion in annual revenue, $1.2 billion in export each year and employs approximately 31,000 people.