Australia and Vanuatu have signed a development and security pact that had been delayed for months. The agreement, known as the Nakamal Agreement, will see Australia consulted on any third-party investment in Vanuatu’s critical infrastructure.
Details of the Pact
Australia will remain Vanuatu’s preferred security and policing partner. The pact also includes funding of A$500 million over 10 years. Vanuatu’s Prime Minister, Jotham Napat, said the agreement would not restrict Vanuatu’s ability to secure infrastructure funding from other countries.
China is Vanuatu’s largest external creditor, having provided loans for major infrastructure projects. Vanuatu is currently pursuing its own economic deal with China, which is awaiting approval from Beijing.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
