Press Release Summary:
Announced on July 27, 123 Agreement will open up trade in civilian nuclear power technology and fuel between world's 2 largest democracies. It sets down solid foundation for future cooperation between U.S. and Indian companies involved in nuclear power research, technology, engineering, and safety. Agreement will be submitted to Congress for approval following further negotiations with International Atomic Energy Agency in Vienna and 45-nation Nuclear Suppliers Group.
Original Press Release:
NEMA Applauds New U.S.-India Agreement on Civilian Nuclear Cooperation
ROSSLYN, Va., August 8, 2007- The National Electrical Manufacturers Association (NEMA) applauds U.S. negotiators for the agreement reached with India recently to open up trade in civilian nuclear power technology and fuel between the world's two largest democracies. The so-called "123 Agreement" announced on July 27 sets down a solid foundation for future cooperation between United States and Indian companies involved in nuclear power research, technology, engineering, and safety.
"This agreement is extremely important for U.S.-India commercial relations and for our industry in particular," said Evan Gaddis, NEMA president and chief executive officer. "As India continues to develop its economy and electrical infrastructure, NEMA member companies can compete to supply the transmission, distribution, and control technologies required to safely and efficiently deliver electricity to the millions who need it. Under Secretary of State Nicholas Burns and his negotiating team are to be commended for their historic achievement."
The Agreement follows on the U.S. Congress' approval in December 2006 of legislation authorizing U.S.-India civilian nuclear cooperation. The 123 Agreement will be submitted to Congress for approval following further negotiations with the International Atomic Energy Agency in Vienna and the 45-nation Nuclear Suppliers Group.
NEMA is the trade association of choice for the electrical manufacturing industry. Founded in 1926 and headquartered near Washington, D.C., its approximately 450 member companies manufacture products used in the generation, transmission and distribution, control, and end-use of electricity. These products are used in utility, medical imaging, industrial, commercial, institutional, and residential applications. Domestic production of electrical products sold worldwide exceeds $120 billion. In addition to its headquarters in Rosslyn, Virginia, NEMA also has offices in Beijing, Sao Paulo, and Mexico City.
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