(VOVworld) -  Vietnam and the US signed a bilateral agreement Tuesday on using nuclear energy for peaceful purposes, marking an important step in their partnership.

Minister of Science and Technology Nguyen Quan and US Ambassador to Viet Nam David Shear inked the accord, called the 123 Agreement

The accord, called the 123 Agreement, opens up great prospects for Vietnam and the US to develop specific cooperative projects in radiation application and the development of nuclear power for economic growth. The agreement was signed in the spirit of Section 123 of the US Atomic Energy Act of 1954, titled "Cooperation with Other Nations", and aims to create a legal framework for co-operation between Viet Nam and the US in research, training, development, and application of nuclear energy. The agreement is expected to help Vietnam acquire modern American nuclear technologies for its nuclear power projects.