U.S. Chamber Applauds U.S.-U.A.E. Nuclear Cooperation Agreement | U.S. Chamber of Commerce

U.S. Chamber Applauds U.S.-U.A.E. Nuclear Cooperation Agreement

Tuesday, October 20, 2009 - 8:00pm

U.S. Chamber Applauds U.S.-U.A.E. Nuclear Cooperation Agreement

Accord Will Enhance U.S. Security, Create Jobs, and Boost Trade

WASHINGTON, D.C.— The U.S. Chamber of Commerce and its affiliated U.S.-U.A.E. Business Council applauded yesterday's notification by the Congress to the administration that the legislative review period is complete for the U.S.-United Arab Emirates Agreement for Peaceful Nuclear Cooperation. Both governments will now move quickly to take the additional steps necessary to put the agreement into force, thereby enhancing U.S. and regional security, creating jobs, and increasing trade.

"The U.A.E. is showing the world how an emerging economic powerhouse can responsibly harness nuclear energy to boost economic growth and peaceful development," said U.S. Chamber President and CEO Thomas J. Donohue.

Under the agreement, the U.A.E. has pledged not to enrich uranium or reprocess used nuclear fuel, which may be used to develop nuclear weapons, and it must import all fuel for its nuclear reactors.

"The greatest beneficiary of this agreement is America's workers," said Danny Sebright, president of the U.S.-U.A.E. Business Council. This model agreement could generate more than $40 billion in commercial opportunities and well over 10,000 American jobs, according to a recent Business Council study.

"This agreement will usher in closer commercial ties between the U.S. and the U.A.E., which is already America's top export market in the Arab world," Sebright said.

The U.S.-U.A.E. Business Council is the premier business organization dedicated to advancing bilateral commercial relations. By leveraging its extensive networks in the U.S. and in the region, the U.S.-U.A.E. Business Council provides unparalleled access to senior decision makers in business and government with the aim of deepening bilateral trade and investment.

The U.S. Chamber is the world's largest business federation representing more than 3 million businesses and organizations of every size, sector, and region.

# # #