Economic Rules Hub
  • World
  • Politics
  • Business
  • Investing
Home World Nauru agrees to give Australia veto rights overpacts with third nations including China
World

Nauru agrees to give Australia veto rights overpacts with third nations including China

by admin December 10, 2024
December 10, 2024

Australia announced a multimillion-dollar agreement with Nauru on Monday that gives Canberra a veto right over a range of pacts the tiny Pacific atoll might want to enter with third countries, including China.

Australia offered 140 million Australian dollars ($89 million) over five years to the remote nation’s population of 12,000 under the treaty to be implemented next year, including 40 million Australian dollars ($26 million) to enhance policing and security.

“Recognizing the security of one of us affects the security of both of us, the treaty provides that Nauru and Australia will jointly agree to any engagement by other countries in Nauru’s security, banking and telecommunications sectors,” Australian Prime Minister Anthony Albanese said in a joint statement with Nauru President David Adeang at Australia’s Parliament House.

Adeang said Nauru’s partnership with Australia, its former colonial master, is “vital” to his country.

The pact has some similarities to a deal a struck in May with Tuvalu, another tiny Pacific island nation with a similar-size population as Nauru, which also gave Australia veto power over third-country deals.

The Tuvalu deal followed a security agreement struck between China and the Solomon Islands in 2022 that has raised concerns over a Chinese naval base being established in the South Pacific.

Meg Keen, director of the Pacific Island Program at the Lowy Institute, a Sydney-based think tank on international policy, said Nauru had sacrificed its ability to strike security, banking and infrastructure deals with China and other third parties in return for a big increase in Australian funding.

“It is a move by Australia to limit Chinese reach and influence in the region,” Keen said in an email.

“The treaty allows Australia to strengthen regional ties and cement its leading role as the development and security partner of choice,” she said.

A key part of the deal is that Nauru will retain an Australian bank. The Commonwealth Bank of Australia will open a branch in Nauru next year after Australia’s Bendigo Bank withdraws from the country.

“This treaty strengthens our own economy, enhances also our mutual security and addresses critical challenges like debanking and ensuring inclusive growth and resilience for our own people,” Adeang said.

This post appeared first on cnn.com

0
FacebookTwitterPinterestEmail
previous post
She was a teenage mother in Detroit. Now she’s a Ghanaian ‘Queen’
next post
CNN goes inside Syria’s ‘slaughterhouse’ prison as desperate families look for missing loved ones

Related Posts

Children swept away in school bus among at least 49...

June 12, 2025

Trump tells Netanyahu to end Gaza war and stop Iran...

June 12, 2025

Trump administration reviewing Biden-era submarine pact with Australia, UK

June 12, 2025

Gaza Humanitarian Foundation says Hamas attack has killed multiple aid...

June 12, 2025

Israel recovers bodies of two dead hostagesfrom Gaza in military...

June 12, 2025

Plane crashes at airport in western Indian city of Ahmedabad

June 12, 2025

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent

    • Trump tells Netanyahu to end Gaza war and stop Iran threats, source says, as US ramps up pressure on Israel

      June 12, 2025
    • Children swept away in school bus among at least 49 killed in South Africa flooding

      June 12, 2025
    • Israel recovers bodies of two dead hostagesfrom Gaza in military operation

      June 12, 2025
    • Gaza Humanitarian Foundation says Hamas attack has killed multiple aid workers

      June 12, 2025
    • Trump administration reviewing Biden-era submarine pact with Australia, UK

      June 12, 2025

    Categories

    • Business (1,401)
    • Investing (3,435)
    • Politics (4,594)
    • World (4,506)
    • Email Whitelisting
    • Terms and Conditions
    • Privacy Policy
    • Contacts
    • About us

    Disclaimer: EconomicRulesHub.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 EconomicRulesHub.com | All Rights Reserved

    Economic Rules Hub
    • World
    • Politics
    • Business
    • Investing