Washington, 15th Dec. 2008 -- The Governments of the United Arab Emirates and the United States have completed negotiations on the proposed text for a bilateral cooperation agreement on the peaceful use of nuclear energy, a UAE Foreign Ministry source said.

This '123 Agreement' would allow for the transfer of nuclear-related components and materials between the two countries.

''As is normal in these matters, 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,'' HE Yousef Al Otaiba, UAE Ambassador to the USA, said.

''We are confident that the agreement highlights the transparency of the civilian nuclear energy program the UAE is embarking on and should be lauded as the gold standard of nuclear cooperation agreements,''he added.

''It is the view of the UAE government that the proposed UAE 123 agreement sets a new standard in ensuring the highest standards of safety, security and non-proliferation within the UAE program,'' he said. (WAM/TF)