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CME statement on Canada-India Nuclear Cooperation Agreement

Published by Stephanie Brooks on November 06, 2012

CME welcomes today's announcement by Prime Minister Harper and his Indian counterpart, Manmohan Singh, that Canada and India have reached an agreement on Administrative Arrangements which will allow for the implementation of the Nuclear Cooperation Agreement, signed in 2010. Finding a mutually acceptable solution to this issue was a key issue for CME members in the context of Prime Minister Harper's visit.

The deal announced today will open the door for Canadian and Indian nuclear energy companies to cooperate in international markets where heavy water reactors are in demand, and where such cooperation will make us more competitive. In addition, the Agreement will result in Canadian nuclear material and technology suppliers having access to growing nuclear energy opportunities in India.

As noted in a recent CME study commissioned by the Canadian Nuclear Association, the Canadian nuclear industry employs 60,000 Canadians directly and indirectly. CME's study forecasts new domestic investments in the nuclear industry will drive employment growth by 40 per cent in the next five years, thanks to growing uranium mining capacity in Saskatchewan, mid-life refurbishment of 10 CANDU reactors in the coming 11 years, and the construction of two new CANDU reactors.

Today's announcement will further fuel the growth of this key industry cluster.

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