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PM announces conclusion of negotiations on Canada-India Nuclear Cooperation Agreement
“Our Government is committed to promoting greater trade and investment with India,” said the Prime Minister. “The conclusion of the Administrative Arrangement with India will facilitate opportunities for Canadian companies to play a greater role in meeting India’s growing energy needs. It is expected to generate millions of dollars in new business contracts between our countries and to create high-quality new jobs here at home.”
The Nuclear Cooperation Agreement – together with the Administrative Arrangement through which it will be implemented – will allow Canadian firms to export and import controlled nuclear materials, equipment and technology to and from India to facilities under safeguards applied by the International Atomic Energy Agency (IAEA).
NCAs provide international treaty level assurances that nuclear material, equipment and technology originating in Canada will only be used only for civilian and peaceful applications. The NCA will provide access for members of Canada's nuclear industry to India's expanding nuclear market and facilitate the exploration of joint commercial ventures and research and development.
Nuclear energy production in Canada generates about $5 billion in annual revenues. Canada’s nuclear industry is responsible for 21,000 direct jobs and a billion dollars a year in uranium exports.
