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MINISTER FOR FOREIGN AFFAIRS

The Hon. Kevin Rudd MP

OPENING A NEW MARKET FOR AUSTRALIAN URANIUM

The Australian Government has announced it will soon begin negotiations with the United Arab Emirates  (UAE) on a bilateral nuclear safeguards agreement on peaceful uses of nuclear energy.

Foreign Minister Kevin Rudd said the UAE is planning for civil nuclear power generation to be operational by  2017 as an additional source of electricity to meet future demand.

“The UAE is a member of the Nuclear Non-Proliferation Treaty and has an Additional Protocol on  strengthened safeguards with the International Atomic Energy Agency. A bilateral safeguards agreement  with Australia is a further strict non-proliferation condition that Australia requires for supplying uranium,”  said Mr Rudd.

“The UAE currently estimates that annual peak demand for electricity will reach more than 40,000  Megawatts by 2020, and the proposed agreement would open up an important additional market for  Australian uranium producers.”

In support of its plans for nuclear power development the UAE is negotiating or has concluded nuclear  safeguards agreements with a number of countries including the US, France, the UK and Japan.

“Australia welcomes the UAE’s efforts to establish a responsible approach to nuclear power generation and  hopes that it will serve as a model for other countries in the Middle East.”

Mr Rudd said Australia looks forward to continued close bilateral relations with the UAE, underpinned by  significant shared interests, substantial trade links and strong defence ties.

“The UAE is Australia’s largest merchandise trading partner in the Middle East, with two-way trade valued at  over $4.2 billion in 2009-2010.  It hosts the Australian Defence Force headquarters in the Middle East.”

Australia has 22 bilateral nuclear safeguards agreements oversighted by the Australian Safeguards and Non-Proliferation Office, covering 39 countries and Taiwan.

ABU DHABI, 9 March

