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Britain and the United States backed a new “Atlantic Declaration” on Thursday for greater cooperation on pressing economic challenges in areas like clean energy, critical minerals and artificial intelligence.
About Atlantic Declaration
- The joint declaration described the partnership as the “first of its kind” in covering the broad spectrum of the two countries’ economic, technological, commercial and trade relations.
Photo Credit: The Hindu - Under the plan, Britain and the United States will strengthen their supply chains, develop technologies of the future and invest in one another’s industries.
- Both also agreed to launch a new civil nuclear partnership as part of their clean energy cooperation, which will include setting up new infrastructure over the long term and cutting reliance on Russian fuel.
- The two countries also agreed to work together on ensuring the safe development of AU technology.
- The two nations will also begin negotiations on a critical minerals agreement, which would allow some UK firms to access tax credits available under the U.S. Inflation Reduction Act.
- The minerals, such as lithium, nickel, cobalt, graphite and manganese, are critical for batteries for electric cars, smartphones and solar panels.
- Britain and the United States will also co-operate on telecoms technology including 5G and 6G and quantum technologies.
- The declaration also included a commitment in principle to a UK-U.S. “data bridge” which would make it easier for British businesses to transfer data freely to U.S. organisations without red tape.
Source: Business Today
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