Lotilla, Blinken set to sign ‘123 agreement’ on nuclear power

Manila Bulletin

The much-awaited and historic ‘123 Agreement’ on nuclear power cooperation is set to be signed between Philippine Energy Secretary Raphael P. M. Lotilla and United States Secretary of State Anthony Blinken, according to highly placed sources. (Video Courtesy of RTVM)  Subscribe to the Manila Bulletin Online channel! - https://www.youtube.com/TheManilaBulletin  Visit our website at http://mb.com.ph Facebook: https://www.facebook.com/manilabulletin  Twitter: https://www.twitter.com/manila_bulletin Instagram: https://instagram.com/manilabulletin Tiktok: https://www.tiktok.com/@manilabulletin  #ManilaBulletinOnline #ManilaBulletin #LatestNews

Transcript

00:00 As peak energy demands are expected to nearly quadruple in the Philippines by 2040, nuclear

00:08 power can consistently produce enough energy to meet communities' critical needs without

00:13 emitting more greenhouse gases.

00:15 In a nation of more than 7,000 islands, small modular reactors, some just the size of a

00:21 city bus, can generate energy locally and conveniently.

00:28 Nuclear energy will also create inclusive economic opportunities for American and Filipino

00:33 businesses alike, and good quality, high-paying jobs in both of our countries.

00:40 All of these are reasons why today we're signing this 123 agreement to create a framework for

00:45 our civil nuclear cooperation.

00:48 When Vice President Harris visited the Philippines last November, she announced that we were

00:53 starting to develop this arrangement.

00:55 So just one year later, we're signing the agreement, and that is the fastest that the

01:00 United States has ever negotiated this kind of agreement.

01:03 It is a testament to two things – to the high priority that this issue is for both

01:07 of our countries, and to how closely we're collaborating.

01:11 And I just want to echo the gratitude, Mr. President, to your extraordinary team for

01:16 the work that we've been able to do in such a short period of time.

01:19 When this agreement goes into effect, the United States will be able to share equipment

01:23 and material with the Philippines as they work to develop small modular reactors and

01:27 other civilian nuclear energy infrastructure.

01:30 And we'll do so while following the highest standards of safety and security, and while

01:35 complying with our international nonproliferation commitments.

01:39 Already we've organized workshops, we've hosted exchanges on these topics with American

01:44 and Filipino researchers, officials, business leaders, to help train local experts, and

01:50 to share some of our best practices.

01:51 Thank you.

01:52 (Applause.)

01:52 (END)

01:59 [BLANK_AUDIO]

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