Govt confirms Taiwan uranium export deal. 04/04/2006. ABC News Online

The Federal Government has confirmed that Australian uranium can be exported to Taiwan.

It has been revealed that two major Australian companies have signed contracts to supply uranium to Taiwan, even though Taiwan is not recognised as a country and cannot sign the Nuclear Non-Proliferation Treaty (NPT).

Foreign Affairs Minister Alexander Downer says a deal was done with the help of the United States.

"I can confirm that it's possible to export Australian uranium to Taiwan under arrangements that we negotiated with the United States back in 2000 ... [that] were concluded in 2002," he said.

"So it is possible to do and so they can negotiate contracts and if they're all in order, then those exports can take place, but only via the United States."

The development comes just a day after Australia signed a nuclear safeguards agreement with China.

A senior Chinese diplomat believes Australia's business community is ready for the opportunities China could offer.

Attending last night's opening of the Mount Isa Mining Expo, Consul and Head of Mission Madame Liu Fei said mining products accounted for sixty per-cent of exports to China.

Madame Fei acknowledges signing yesterday's uranium agreement is significant, but says it should not overshadow other exports.

"Uranium is just one area of cooperation," she said.

"Actually China is already the second-biggest trade partner with Australia right now, so uranium, if put in all the business, uranium is just a small part, not a major part between the two countries."