AFTER less than a year of negotiations, the Philippines and the United States signed an agreement for Peaceful Uses of Nuclear Energy known as the 123 Agreement.
This is hailed as the fastest agreement ever reached on nuclear energy.
On the sidelines of the 30th Asia-Pacific Economic Cooperation (APEC) Leaders’ Meeting and related activities in San Francisco, California.
President Marcos said that the 123 Agreement is a significant first step in strengthening the bilateral relationship between the Philippines and the United States.
He also emphasized the importance of promoting nuclear energy as part of the country’s energy mix by 2032.
“I called then for the re-evaluation of the possibility of safely developing nuclear energy in the Philippines, recognizing the enormous potential of nuclear energy given the new, highly advanced technologies and standards of safety, security, and all the different safeguards that are now in place,” according to Pres. Ferdinand Marcos, Jr.
The 123 Agreement was signed by Department of Energy (DOE) Secretary Raphael Lotilla and US Secretary of State Anthony Blinken.
President Marcos expressed his satisfaction in witnessing another milestone towards a more energy-secure and green Philippines.
This comes as the executive recalls his first State of the Nation Address (SONA) where he outlined plans to ensure affordable, reliable, and sustainable energy supply in the Philippines.
Earlier, the Philippines’ Manila Electric Co. or Meralco signed a cooperation agreement with the US-based Ultra Safe Nuclear Cooperation.
The aim of the agreement is to conduct a Pre-Feasibility Study on Micro-Modular Reactors to explore clean and sustainable energy options in the Philippines.
President Marcos highlighted that the agreements signed by the Philippines and the US demonstrate a strengthened relationship between the two countries.
“I look forward to seeing this agreement in action in the years to come. Nuclear energy is one area where we can show that the Philippines-U.S. alliance and partnership truly works — for our peoples, our economies, and the environment,” President Marcos, Jr. added.
On the other hand, U.S. Secretary of State Antony Blinken thanked President Marcos and the Philippine government officials for the ongoing relationship between the US and the Philippines and the expanded partnership.
Meanwhile, Secretary Raphael Lotilla thanked President Marcos for his support and the negotiating team for the successful negotiations that led to the signing of the 123 Agreement.
Before this agreement, several drafts were exchanged, and three rounds of bilateral consultations and negotiations took place between DOE Undersecretary Sharon Garin and Principal Deputy Assistant Secretary of State Ann Ganzer in March 2023.
The negotiation process was completed by their respective interagency teams from the Philippines and the US on September 19, 2023.
