OTTAWA, ONTARIO–(Marketwired – Sept. 27, 2013) – The Honourable Joe Oliver, Canada’s Minister of Natural Resources, and the Honourable Lynne Yelich, Minister of State (Foreign Affairs and Consular), today announced the coming into force of the Canada-India Nuclear Cooperation Agreement.
This coming into force results from Canada’s vigorous efforts to reach new markets for energy exports, creating opportunities for Canadian business. The Canadian nuclear industry currently supports 30,000 direct jobs across our country.
“This milestone represents a significant step in diversifying markets for our energy exports, thereby creating jobs and solidifying Canada’s long-term prosperity,” said Minister Oliver. “The agreement with India will permit Canadian companies to reach an important new market for Canadian uranium, nuclear technology, services and equipment “
Minister Oliver made this announcement following a meeting with India’s Minister of External Affairs, Salman Khurshid, on Monday, September 23, in Ottawa. He visited India in October 2012 to promote Canadian exports to India, the fourth-largest energy consumer in the world. India is expected to more than triple its electricity supply within the next 25 years.
Minister Oliver and Minister of State Yelich previously announced that the Appropriate Arrangement pursuant to the Canada-India Nuclear Cooperation Agreement had been signed by both countries at an announcement in Saskatoon on April 8, 2013.
“I am very pleased that this crucial Agreement is now in force,” said Minister Yelich. “It is important for the Province of Saskatchewan – one of the world’s largest producers of uranium – and can only solidify Canada’s already strong relationship with India.”
The Nuclear Cooperation Agreement and the supporting Appropriate Arrangement will allow Canadian companies to export nuclear items for peaceful uses, in accordance with Canada’s nuclear non-proliferation policy. The Canadian Nuclear Safety Commission, Canada’s independent nuclear regulator, will be responsible for implementation, ensuring that Canadian exports only go to facilities in India under International Atomic Energy Agency safeguards.
With the coming into force of this Nuclear Cooperation Agreement, the Government reaffirms its commitment to support and grow Canada’s nuclear industry, which generates about $5 billion in electricity annually and approximately $1 billion a year in uranium exports.