China to receive more uranium for its nuclear reactors

A new inter-governmental agreement will boost Canada’s exports of uranium to China.

Canadian Foreign Affairs Minister John Baird said Canada and China have signed a supplementary protocol to the long-standing Canada-China Nuclear Cooperation Agreement that will help Canadian uranium companies increase their exports to China. Baird and Liu Tienan, head of China’s National Energy Administration, signed the protocol in Beijing.

“Canada is committed to building stronger trade and investment ties with China, our second-largest trading partner,” said Baird. “Increased collaboration with China’s civil nuclear-energy market will give Canadian companies greater access to one of the world’s largest and fastest-expanding economies, creating new jobs, growth and long-term prosperity.”

The supplementary protocol of the Canada-China Nuclear Cooperation Agreement signed in 1994 will govern and facilitate the export of Canadian uranium to China.

Nuclear energy production in Canada generates about C$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. Prime Minister Stephen Harper announced the successful completion of negotiations towards this protocol during his trip to China last February.