Iranian President Mahmoud Ahmadinejad said on Thursday that his country welcomes the idea of exchanging nuclear fuel and is prepared for cooperation on the issue with the West.

According to AFP, he also praised what he said was a change in the West powers' approach to Tehran's nuclear plans from "confrontation to cooperation". "We welcome fuel exchange, nuclear cooperation, building of power plants and reactors and we are ready to cooperate," the Iranian leader president said in a speech. But at the same time, Ahmadinejad added Iran would not retreat "one iota" on its nuclear rights.