India signs nuclear pact with Argentina, 7th since NSG waiver

India signs nuclear pact with Argentina, 7th since NSG waiver

The agreements were signed after wide-ranging talks between Prime Minister Manmohan Singh and Argentine President Cristina Fernando de Kirchner  at Hyderabad House here.
The Agreement for Cooperation in the Peaceful Uses of Nuclear Energy was signed by Vivek Katju, Secretary (West) in the Ministry of External Affairs and Argentine Foreign Minister Jorge Talana.
Argentina became the seventh country with which India has signed a civil nuclear agreement after the 45-nation Nuclear Suppliers Group lifted a 34-year-old ban on nuclear commerce in September last year.
India has already signed similar pacts with the US, France, Russia, Kazakhstan, Namibia and Mongolia.
A joint statement issued after the talks said India and Argentina will make use of the synergies between the two countries and the vast experience of their nuclear scientists and technologists.
"Taking into account their respective capabilities and experience in the peaceful uses of nuclear energy, both India and Argentina have agreed to encourage and support scientific technical and commercial cooperation for mutual benefit in this field," it said.

India and Argentina also signed pacts on business visas, cooperation in science and technology and outer space. Memoranda of Understanding were also signed in hydrocarbon sector, sports, trade and geological research.
The joint statement said the two sides expressed their will to continue and expand bilateral dialogue and cooperation comprehensively to take it to the strategic partnership level.
The dialogue will aim at mutually-beneficiary cooperation in all spheres, including dialogue on political and strategic issues, economic and trade relations, consular issues, energy, investment, services and tourism.
The two leaders noted that some Indian companies had made investments in Argentina and that bilateral trade more than doubled from USD 694 million in 2003 to USD 1328 million in 2008.
They agreed to fix the bilateral trade target at USD 3 billion by 2012 while expressing keenness to expand and diversify commerce and economic cooperation to utilise untapped potential.
The two leaders asked their competent authorities and technical teams to take the necessary measures to expand trade and investments and agreed to work together for enhancing bilateral investments in various sectors, including in knowledge-based industries and agro-industries.

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