Nov. 16 (UPI) -- President Joe Biden on Thursday signed off on a cooperation agreement with the Philippines that would promote the peaceful use of nuclear energy.
The deal will be signed during Philippines President Ferdinand Marcos Jr.'s San Francisco visit this week during the ongoing Asia Pacific Economic Cooperation forum.
"I have determined that the performance of the proposed agreement will promote, and will not constitute an unreasonable risk to, the common defense and security," Biden said in a White House statement. "I hereby approve the proposed agreement and authorize the Secretary of State to arrange for its execution."
The 123 agreement, named after Section 123 of the U.S. Atomic Energy Act of 1954, is a binding cooperation between the two nations on use of peaceful nuclear energy.
Biden's action gives the go-head on implementing the agreement to U.S. Secretary of State Antony Blinken.
The deal will allow transfers of nuclear material or equipment from the United States and will facilitate technical exchanges, along with scientific research and safeguard dialogues.
According to the Energy Department, the United States has 23 of these nuclear agreements in place with governing peaceful nuclear cooperation with 47 countries.
Marcos will spend four days in San Francisco with a larger than usual Filipino delegation traveling with him because several significant deals will be signed with the U.S. and other nations in addition to the nuclear agreement.
Marcos, speaking during a Filipino event in San Francisco, said, "This is perhaps one of the biggest delegations that we brought for the conference because it is very important. We need to discuss with our friends not just from America, but also from other countries several topics."
Among the topics under consideration are trade and investment, the war in Ukraine, the Israel-Gaza war and the South China Sea dispute.
Marcos is attending the Asia-Pacific Economic Cooperation Economic Leaders Meeting in San Francisco.
President Biden met with Marcos in May at the White House to reaffirm Southeast Asia defense commitments between the nations and to discuss ways to strengthen the U.S.-Philippines expanding military alliance in the face of increasing Chinese power in the region.
On Wednesday the Philippines House advanced creation of the Philippine Atomic Energy Regulatory Authority that provides a legal framework for nuclear safety, security and other safeguards for peaceful use of nuclear energy.
According to Special Committee on Nuclear Energy Chairperson and Pangasinan Rep. Mark Cojuangco, the measure would make sure the Philippines complies with International Atomic Energy Agency recommendations on use of nuclear energy.