The signing of the letter of understanding (Image: CCC)
Under the agreement, Canadian Nuclear Laboratories (CNL) and Canadian Commercial Corporation (CCC) will leverage their respective strengths to pursue international market access and export opportunities, through activities that include the promotion of Canadian nuclear expertise, technologies, and solutions in international markets; upholding the highest levels of safety, security and non-proliferation; the sourcing of critical components, technologies and services from qualified Canadian companies; and the exportation of CNL’s technologies and intellectual property.
The work may also encompass knowledge transfer and capacity building activities, given CCC's expertise in international markets, government-to-government contracting, and the export of Canadian nuclear technologies and related services.
The agreement follows November's Asia-Pacific Economic Cooperation (APEC) Leaders' Summit in Lima, Peru, where Prime Minister Justin Trudeau announced Canada's vision to strengthen nuclear partnerships in the Indo-Pacific region through the Canadian Trade Gateway for Nuclear Development. In support of that vision, CNL joined a Team Canada Trade Mission to Indonesia and the Philippines this month designed to help Canadian exporters and innovators showcase their capabilities to facilitate long-term trade and investment opportunities.
According to Global Affairs Canada, the Indo-Pacific is Canada's second-largest export market, after the USA, with annual two-way merchandise trade valued at CAD257 billion (USD182 billion) in 2023. The Canadian Trade Gateway for Nuclear Development is designed to help strengthen Canada's nuclear partnerships in the region, develop local expertise and facilitate knowledge sharing in the nuclear sector. It will also identify opportunities for Canada's industry to meet regional needs, including through round tables, symposiums and other engagement events. The gateway also aims to increase opportunities for Canadian businesses working in the nuclear industry to grow their engagement in the region, creating good, well-paying jobs, while strengthening commercial and investment ties between the economies of Canada and Indo-Pacific countries.
"On behalf of everyone at CNL, I want to express our collective gratitude and excitement at this agreement with CCC, an organisation that shares our vision for the growth and expansion of Canadian science, technology and expertise internationally," said CNL Vice-President of Corporate Affairs and Business Development Lou Riccoboni. "CNL and AECL have a long history of exporting nuclear solutions to our friends and allies abroad, including nuclear energy and medical isotopes.
"With the challenges posed by climate change and energy insecurity, we are pleased to see the resurgence in nuclear energy unfolding and want to do our part to help emerging nuclear nations pursue economic development, reduce emissions, and advance innovative technologies through the safe and responsible use of nuclear science and technology."
Kim Douglas, CCC's Vice-President of Business Development and Marketing, added: "Canada is a global leader in nuclear science and technology, with a long history of providing emissions-free, low-cost energy solutions as well as enabling medical applications, such as cancer treatment. Governments are increasingly turning to Canada to explore adoption or expansion of nuclear investments, and CCC aims to support these governments with their energy transition plans through our government-to-government contracting model.
"This is opening opportunities for Canadian companies in the nuclear supply chain. CCC looks forward to our collaboration with CNL as we endeavour to export Canadian nuclear solutions to the Indo-Pacific and beyond."
