NEW DELHI (Commodity Online ) : India on Friday signed an important pact with EU on an ambitious nuclear energy project.

The pact was inked by India’s Atomic Energy Commission chairman Anil Kakodkar and EU Commissioner for External Relations Benita Ferrero-Waldner, who represented the European Atomic Energy Community (Euratom).

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The two sides also agreed to expand their cooperation in countering terrorism by accelerating negotiations between Europol, the EU’s nodal criminal intelligence agency, and the Indian agencies.

Indian Prime Minister Manmohan Singh held the 10th summit talks Friday with the EU leaders, Swedish Prime Minister Fredrik Reinfeldt and chairman of the Swedish presidency of the EU, and president of the European Commission Jose Manuel Barroso.

They discussed a broad spectrum of bilateral and global issues including the global financial crisis, energy security, climate change, trade and terrorism.

An agreement on civil nuclear energy, focusing on India’s participation in the International Thermonuclear Experimental Reactor (ITER) project, was signed after the talks.

The ITER project on fusion energy is said to be the costliest experiment of its kind pegged at 10 billion euros with the first fusion reactor expected to be operational in Cadarche, France by 2016.

“Both sides are agreed that a broad-based trade and investment pact is in mutual interest. We have expressed hope that the negotiations can be completed in one year,” Manmohan Singh said at a joint press conference with the EU leaders.

The two sides launched negotiations in 2007 for a broad-based trade and investment pact, including a free trade agreement (FTA).

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