The agreement was signed by the two sides on the sidelines of the Asia- Pacific Economic Forum summit in San Francisco, USA. The main content of the agreement is that Washington will transfer nuclear technology and provide nuclear materials to Manila for civilian purposes.
Philippine President Ferdinand Marcos Jr.
The economic and commercial benefits for the Philippines in this are not only enormous, but also of great strategic significance for both the immediate and long term. There are places in the world that do not use nuclear energy because they implement policies prohibiting the use of nuclear energy or do not have the practical conditions to obtain nuclear energy and use it. Nuclear energy will help the Philippines ensure more sustainable and efficient energy security.
At the same time, the immediate and long-term political and security implications for the world and the region are also very important for Manila and similarly for Washington. The two countries are each other's traditional strategic military allies. The nuclear issue has always been very sensitive in the world, especially in the Indo- Pacific region.
The above "123 Agreement" reflects the very high level of engagement and trust between the two countries and will make a very practical contribution to strengthening bilateral relations, especially in politics, military and security.
In fact, the agreement was the result of both sides taking advantage of the situation and taking advantage of the situation. If there had not been a change of president in both countries and if there had not been recent tensions in Asia, the two sides would not have rushed to sign this agreement.
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