ITA Leads Largest Ever Civil Nuclear Trade Policy Mission to Vietnam and China
June 13, 2013Francisco J. Sánchez is the Under Secretary of Commerce for International Trade.
Under Secretary of International Trade Francisco Sánchez and U.S. delegation members meet with Vietnamese Minister of Science and Technology
Nguyễn Quân in Hanoi, Vietnam.
This May, I was able to lead the largest ever U.S. Civil Nuclear Energy Trade Policy Mission to Hanoi, Vietnam, and Beijing and Ningbo, China. This mission enabled us to address important policy issues and highlight how U.S. civil nuclear technologies and services can help Vietnam and China meet their civil nuclear energy goals.
The U.S. government delegation included representatives from the White House, Department of Energy, U.S. Export-Import Bank, the U.S. Nuclear Regulatory Commission, and of course the U.S. Department of Commerce’s International Trade Administration. The industry delegation included 11 American companies in Vietnam and 15 in China.
Vietnam and China offer abundant opportunities to U.S. civil nuclear companies:
- Vietnam is steadily developing its nuclear power program and its civil nuclear market is estimated to be worth $10 billion and expected to grow to $50 billion by 2030;
- China is the world’s fastest growing civil nuclear market. 29 of the 65 reactors under construction globally are in China and the country’s nuclear industry is expected to grow to nearly $300 billion by 2020.
In Vietnam, our delegation met with government officials and also participated in a Best Practices workshop attended by 50 representatives from Vietnamese ministries, state-owned utilities, and regulatory agencies. Delegates shared their expertise on a variety of topics including safety improvements post-Fukushima, and how nuclear regulators and industry can cooperate to enhance nuclear safety.
In China, we met with eight ministries and companies to discuss policy issues such as liability, local content, and intellectual property rights. The mission concluded with a visit to China’s Sanmen nuclear power plant site, where the world’s first AP1000 reactor – designed by U.S. company Westinghouse – is being built.
Our trade mission also lined-up with other important events recognizing the value of our economic relationship with Asia.
This week, the U.S.-ASEAN Business Council is holding a series of meetings with U.S. businesses. I was also able to speak about the importance of Asia at the Hong Kong Trade Development Council’s Think Asia Think Hong Kong symposium in New York.
I am proud to contribute to our important trade relationship, and to have led such a distinguished delegation to these key civil nuclear export markets. This is another example of our efforts to help U.S. exporters find new opportunities to sell their goods and services and support American jobs.
Tradeology, the ITA Blog 