Washington, Dec 15 (IANS) The United Arab Emirates (UAE) and the US have completed negotiations for a bilateral cooperation agreement on the peaceful use of nuclear energy, WAM reported Monday quoting a UAE foreign ministry source.
The '123 Agreement' would allow the transfer of nuclear energy technology and materials between the two countries.
Section 123 of the US Atomic Energy Act of 1954 requires an agreement for cooperation as a prerequisite for nuclear deals between the US and any other nation. Such an agreement is called a 123 Agreement.
To date, the US has entered into roughly 25 such agreements with various countries, the latest being with India.
'Representatives of the US administration and the UAE government are working closely with members of Congress to inform them about the agreement and seek their views,' UAE's envoy to the US Yousuf Al Otaiba said.
'We are confident that the agreement highlights the transparency of the civilian nuclear energy programme the UAE is embarking on and should be lauded as the gold standard of nuclear cooperation agreements,' he added.