Kazakhstan and Mongolia signed a memorandum of cooperation in nuclear energy on October 29, formalizing their partnership following President Tokayev’s visit to Mongolia. The agreement highlights collaboration on natural resources and the establishment of a Joint Declaration for a strategic partnership. Key commercial agreements were also made during this visit. Furthermore, Kazakhstan is considering the construction of a nuclear power plant, with various international companies interested in the project.
On October 29, Kazakhstan and Mongolia fortified their cooperation in the nuclear energy sector by signing a memorandum of partnership. The agreement was executed between Kazakhstan’s Ministry of Energy and the Executive Office of Mongolia’s Nuclear Energy Commission, following President Kassym-Jomart Tokayev’s recent diplomatic visit to Ulaanbaatar. During this visit, President Tokayev highlighted the substantial natural resources available to both nations, stating the intent to collaborate on the exploration and development of various mineral deposits including iron, phosphate, bauxite, and rare minerals. He expressed the readiness of Kazakh entrepreneurs to investigate opportunities within Mongolia’s mining industry. In addition to the nuclear energy memorandum, the two nations also ratified a Joint Declaration that solidifies their strategic partnership, commemorated by a ceremonial exchange of the signed documents. This signing coincided with the inaugural meeting of the Business Council in Ulaanbaatar, where business leaders from both Kazakhstan and Mongolia engaged in the signing of significant commercial agreements, aimed at enhancing business relations between the two countries. Notably, on October 6, Kazakhstan conducted a referendum concerning the establishment of a nuclear power plant, a decision that was previously announced by President Tokayev on September 2, 2024. The Kazakh Ministry of Energy in 2023 noted that four entities are vying to construct this nuclear facility: China’s China National Nuclear Corporation (CNNC), South Korea’s Korea Hydro & Nuclear Power (KHNP), France’s Électricité de France (EDF), and Russia’s State Atomic Energy Corporation (Rosatom). Furthermore, international bodies including the International Atomic Energy Agency (IAEA) are anticipated to play a role in the oversight and compliance of this project.
Kazakhstan and Mongolia are rich in natural resources and have recently sought to deepen their economic ties, particularly in the energy sectors. The nuclear energy collaboration is critical as both countries look to expand their energy portfolios and capitalize on their respective natural resources. The signing of the memorandum comes during a pivotal time for Kazakhstan, as it considers expanding its nuclear energy capabilities in response to growing energy demands. The involvement of international organizations such as the IAEA is also crucial for ensuring safety and regulatory compliance in nuclear projects.
In conclusion, the memorandum of cooperation signed between Kazakhstan and Mongolia represents a strategic partnership that aims to enhance collaboration in the nuclear energy sector and beyond. The initiative underscores both countries’ commitment to exploring their rich mineral resources effectively. With major players in the nuclear industry expressing interest in Kazakhstan’s projects, the collaboration holds the potential to bring significant economic benefits to both nations.
Original Source: en.trend.az
