Signing of agreement on establishment of LEU Bank in Kazakhstan is a historic milestone - Kazakh Foreign Minister Idrissov

Foreign Minister of Kazakhstan Erlan Idrissov who inked the agreement on behalf of the host country, delivered a keynote speech at the signing ceremony.

"Dear Director General Amano,

Your Excellencies,

Dear ladies and gentlemen!

Let me welcome you all very cordially to the ceremony of the signing of the agreement to establish the IAEA Low Enriched Uranium Bank (LEU Bank) in Kazakhstan.

We are all about to become participants in and witnesses of a truly momentous event.

The establishment of the Bank is a major milestone in the history of nuclear energy, non-proliferation and global security.

The Bank is a new and unique mechanism for guaranteeing low enriched uranium to Member States when they cannot obtain it on the world market.

The Bank will facilitate the peaceful development of nuclear energy and make a significant contribution to strengthening the global nuclear security.

The establishment of the LEU bank will undoubtedly reduce the risks of proliferation of sensitive technologies of the nuclear fuel cycle.

I personally would like to thank the donor nations - the United States, the European Union, Kuwait, Norway and the United Arab Emirates, - represented here by high level officials for their contributions and their commitment to this project. We look forward to further cooperation with them in the field of nuclear energy, non-proliferation and nuclear safety.

I would like to acknowledge and extend our heartily welcome to Senator Sam Nunn, chief executive officer of Nuclear Threat Initiative, whose initiative and the generous contribution from Warren Buffet back in 2006 was critical for launching the process of the establishment of the bank.

And, most certainly, I would like to acknowledge the presence here of the IAEA team led by Director General Amano and the negotiating team on the Kazakhstan side, co-led by my distinguished colleague and friend Minister Vladimir Shkolnik, whose commitment, perseverance and tireless efforts have brought us to this day.

Ever since the idea to create an LEU Bank was born, President Nursultan Nazarbayev, strongly supported the initiative to establish it in Kazakhstan.

Kazakhstan, because of our experience and expertise but above all our history, was seen from the earliest days as the most likely country to host the LEU Bank and willingly agreed to host it. We are not only the biggest producer of natural uranium. Our determination to work for a world free of nuclear weapons has defined our nation and our place in the international community.

As soon as Kazakhstan became independent, following the decision of President Nazarbayev, we voluntarily renounced the world's fourth biggest nuclear and missile arsenal. Even before independence, the President took the decision to shut down the Semipalatinsk nuclear testing site.

Both decisions were strongly backed by our citizens who know, more than any other population in peacetime, the catastrophic impact of nuclear weapons. The radioactive fall-out from nearly 500 Soviet nuclear tests at Semipalatinsk caused illness and death of hundreds of thousands of people, left huge areas of our land contaminated and continues to cause illness and disability over a generation after the site was shut down.

Working with both Russia and the United States in an unprecedented way, our own experts helped remove weapons from our country safely and make former nuclear sites and their material secure.

We have worked tirelessly to prevent other countries suffering as we have. Kazakhstan is a signatory to the Comprehensive Test Ban Treaty (CTBT) and has campaigned passionately for a universal ban on nuclear testing.

We won the support of the United Nations to commemorate the annual anniversary of the closing of the Semipalatinsk site on August 29 as the International Day against Nuclear Tests. And we have launched The ATOM Project giving global citizens an opportunity to urge their leaders to end nuclear testing permanently and legally and ensure the early entry into force of the CTBT.

We have contributed to the achievement of agreements on the Iranian nuclear program by hosting two rounds of negotiations between Iran and P5+1.

And we have been active participants in all three Nuclear Security Summits to step up global efforts against nuclear terrorism. We remain convinced that the only way to prevent the terrifying consequences of warheads being exploded, either accidentally or deliberately, is a world free of nuclear weapons.

Together with our regional partners, we have created a nuclear weapons free zone in Central Asia. We support and hope to one day witness a world free of nuclear weapons, a world that will find peace and security.

It is highly symbolic that the signing of the agreement today takes place on the eve of the International Day against Nuclear Tests, initiated by Kazakhstan.

We are honoured to be entrusted by the IAEA with the responsibility of hosting the LEU bank in our territory and are grateful that Kazakhstan has been recognized as a responsible and a reliable international partner. Let me assure you that our country has all the necessary experience to deal with nuclear materials.

Allow me to touch upon the security and safety aspect of this project. Kazakhstan is blessed with all the conditions and infrastructure to host the LEU Bank. Our facility at Ust Kamenogorsk has deep experience in working with nuclear materials, highly qualified staff and has the robust security and safety provisions required under the IAEA safeguards for long term storage

Furthermore, Kazakhstan has the capacity to produce nuclear fuel and intend to develop nuclear energy in the future. We appreciate and encourage the IAEA to support ongoing activities to promote the development and transfer of technologies and knowledge related to the peaceful use of nuclear capabilities, including nuclear power and nuclear fuel cycle.

By allowing the Bank to be established on our territory, Kazakhstan has made yet another contribution towards the non-proliferation of weapons of mass destruction and the creation of an entirely new mechanism for improving safety and reliability of the nuclear fuel cycle.

Let me once again congratulate you on such an important event and thank all the project participants, including the donors for their contributions and assistance to the project," the speech reads.