Saudi Arabia and the United States announced on Wednesday the signing of a cooperation agreement on the peaceful uses of nuclear energy, enhancing bilateral cooperation in energy and advanced technologies between the two countries.

The Saudi Press Agency (SPA) reported that the governments of Saudi Arabia and the United States signed the cooperation agreement on the peaceful uses of nuclear energy, within the framework of the strategic partnership between the two countries, completing what was announced during Crown Prince Mohammed bin Salman’s visit to Washington last November regarding the conclusion of negotiations on cooperation in the peaceful uses of nuclear energy, and enhancing bilateral cooperation in energy and advanced technologies.

The agreement, signed by Saudi Minister of Energy and Minister of Industry and Mineral Resources Prince Abdulaziz bin Salman and U.S. Secretary of Energy Chris Wright, aims to enhance cooperation between the two countries in the peaceful uses of nuclear energy, support the exchange of expertise, knowledge, and technologies, contributing to the development of joint cooperation in accordance with the highest international standards related to nuclear safety, security, and non-proliferation, and reflecting the shared vision of the two countries to expand cooperation in energy and future technologies and support sustainable development.

The agreement represents an extension of existing cooperation between the two countries in the energy sector, supporting efforts to diversify energy sources, develop advanced technologies, and enhance cooperation and investment opportunities to achieve the common interests of the two friendly countries, according to SPA.

123 Agreement

For its part, the U.S. Department of Energy announced that Chris Wright and Prince Abdulaziz bin Salman signed a civil nuclear cooperation agreement, commonly known as a '123 Agreement,' along with a bilateral agreement on nuclear safeguards, according to the department.

The U.S. department said in a statement that 'the two agreements lay the legal foundation for a partnership spanning decades, valued at billions of dollars, supporting a number of economic and strategic priorities, including nuclear non-proliferation.'

It explained that 'the 123 Agreement grants U.S. companies broad opportunities to participate in the Saudi nuclear energy program, benefiting U.S. industry, workers, and supply chains, and helping to meet Saudi Arabia’s energy needs.'

The U.S. department noted that 'the two agreements enhance the security of the United States and the region by adhering to high standards in nuclear safety, security, and non-proliferation, and also support U.S. competitiveness in civilian nuclear energy technology.'

Agreement Commits to Highest Nuclear Safety Standards

Wright said the two agreements reflect 'the shared commitment between the two countries to strengthening U.S.-Saudi commercial ties, achieving prosperity at home, and security for allies abroad.'

The U.S. secretary added that the two agreements adhere to the highest standards of nuclear safety and non-proliferation, and rely on the best nuclear technology and scientists in the world, drawing on technologies developed in the United States.

Wright considered that thanks to President Donald Trump, 'the American nuclear renaissance has begun,' and it will bring long-term benefits to both the American and Saudi peoples.

The Department of Energy stated in its release that 'the agreement builds on an executive order issued by Trump on deploying advanced nuclear reactor technologies for national security purposes, particularly the provision regarding enhancing U.S. nuclear exports under Section 123 of the Atomic Energy Act of 1954.'

According to the department, the partnership aims to 'expand U.S. nuclear technology exports, create high-paying jobs in the United States, support long-term economic growth, enhance U.S. energy security and national security, establish global nuclear non-proliferation standards, and deepen the strategic partnership between Washington and Riyadh.'

According to the statement, the agreement is set to be submitted to Congress for review.