The agreement, signed at the Asia Pacific Economic Cooperation Summit in San Francisco on Thursday, marks a significant step in bilateral relations between the two countries. It aligns with President Ferdinand Marcos Jr.’s strategy, as outlined in his first State of the Nation Address, to re-examine energy strategies and increase production to meet the country’s growing energy demands.
During a visit to Washington in May, President Marcos met with officials from Ultra Safe Nuclear Corporation, a leader in nuclear technology. He emphasized the need for a diverse energy supply mix that includes both traditional and renewable sources, as well as exploring new avenues for power generation. The Philippine Nuclear Research Institute has endorsed these civil nuclear talks as appropriate for the country’s context.
The White House has expressed that this accord not only strengthens US-Philippine ties but also promotes shared goals such as clean energy, energy security, job creation, and nonproliferation. Discussions that began in November last year aimed at boosting cooperation on zero-emission energy sources and nonproliferation have now culminated in this agreement.
In conjunction with the nuclear pact, a new alliance under the International Technology Security and Innovation Fund was announced to reinforce the global semiconductor ecosystem. This partnership seeks to establish a resilient supply chain for semiconductors worldwide. During an interaction with the US’ Semiconductor Industry Association, President Marcos underscored the importance of electronics and semiconductor industries as key sectors for his administration.
The “123 agreement” mirrors 23 other similar pacts that the US has with different nations, reflecting its commitment to fostering peaceful nuclear cooperation across the globe. This latest agreement with the Philippines is poised to pave the way for increased collaboration in sectors critical to both nations’ economic and environmental futures.
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