WASHINGTON (dpa-AFX) - The United States and Saudi Arabia have signed a landmark Nuclear Cooperation Agreement.
Wednesday, U.S. Secretary of Energy Chris Wright and Saudi Minister of Energy Prince Abdulaziz bin Salman signed a peaceful nuclear cooperation agreement, commonly known as a 123 agreement, alongside an accompanying bilateral safeguards agreement.
Together, these two agreements lay the legal foundation for a decades-long, multi-billion-dollar partnership that advances several priority economic and strategic objectives, including nuclear nonproliferation.
The 123 agreement provides great access for American companies in the Saudi nuclear energy program, benefiting American industry, workers, and supply chains while helping to meet Saudi energy needs.
The two agreements also advance U.S. and regional security by upholding high standards of nuclear safety, security, and nonproliferation and strengthening the United States' competitive edge in civil nuclear technology, according to U.S. Department of Energy.
The deal will reportedly allow Washington's Gulf ally to develop a civilian nuclear program.
'These agreements reflect our two nations' shared commitment to strengthening U.S.-Saudi commercial relations, delivering prosperity at home and security to our allies abroad,' said Secretary Wright.
'Rest assured, these agreements uphold the highest standards of nuclear safety and nonproliferation, while relying on the world's best nuclear technology and scientists, designed right here in the United States. Thanks to President Trump, the American nuclear renaissance is underway and will deliver long-term benefits to the American and Saudi people.'
The deals are the latest episodes in the Trump administration's efforts to restore the United States' competitive edge in the global civil nuclear marketplace. This agreement builds on President Trump's Executive Order, Deploying Advanced Nuclear Reactor Technologies for National Security, and specifically Section 8 on Promoting American Nuclear Exports, which supports an expansion of international partners for U.S. civil nuclear cooperation under Section 123 of the Atomic Energy Act of 1954, as amended.
The agreement, which aims to expand American nuclear technology exports and create high-paying U.S. jobs and long-term economic growth, will be sent to the Congress for review.
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