Australia has struck a sweeping new pact with Nauru, designed to stop China from gaining security foothold in the pacific island nation. The federal government promising to hand Nauru 140 million dollars in budget support in return for security guarantees.
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00:00Signed and sealed.
00:07Australia and Nauru strike a new bargain for a new competitive era.
00:13We share geography, we share history, we share a region.
00:18To Nauru, Australia is not just a friend, but family.
00:23Isolated and with a population of just 11,000,
00:26Nauru faces a grim financial outlook.
00:29Australia stepping in with $140 million in budget and security support over five years.
00:37We recognise that the economic stability of our neighbours benefits our entire region.
00:43The government also convincing Commonwealth Bank to step in
00:47to ensure that Nauru isn't left without a bank.
00:51A step toward greater financial stability for our people.
00:55But there's a quid pro quo with Australia given effective veto power
01:00over Nauru's decisions on national security
01:03and some critical sectors like banking and telecommunications.
01:08This treaty will make our region stronger and it will make it safer.
01:13Foreign affairs officials are working feverishly
01:16to consolidate Australia's position in the Pacific,
01:19locked in what the Foreign Minister calls a permanent contest with China.
01:23And they're using every tool at their disposal.
01:26Later this week, the government's also expected to unveil a deal
01:30to establish an NRL team in Papua New Guinea.
01:33Again, with one eye fixed firmly on Beijing.