Melbourne : Australia finalized two agreements to expand its global uranium exports with India and the United Arab Emirates (UAE) this week, as a major step of expansive export window to regions outside Australia. The Australia-India Nuclear Cooperation Agreement permits Australian companies to commence commercial uranium exports to India, which has been viewed as an important milestone in Australia’s relationship with India, and serves as a platform for strengthening export business market from Australia into India.
This Agreement provides the framework for substantial new trade in energy between Australia and India. The supply of Australian uranium would help India meet its rapidly growing electricity demand and improve the welfare of its people. The administrative arrangements have been signed and Australia has begun preparations for facilitating uranium exports with immediate effect.
The Australian Government has also finalised Australia’s Nuclear Cooperation Agreement with the UAE. Under this deal, Australia would supply uranium for use in UAE’s developing nuclear power program.
Both these agreements set out strict conditions for the peaceful use, safeguarding and security of Australian uranium. Australia now has 24 nuclear cooperation agreements in force, allowing exports to 42 countries plus Taiwan.