Australia Fast-Tracks Nauru Treaty Amid Chinese Investment Concerns

Australia aims to ratify a pivotal security and economic treaty with Nauru by next month. This urgency stems from concerns over a A$1 billion Chinese investment proposal that might contravene the treaty's terms. The treaty grants Australia significant influence over foreign involvement in Nauru's critical sectors.

Australia is racing to ratify a significant security and economic treaty with Nauru by next month, Australian officials announced on Monday. This haste arises from worries that a Chinese investment of A$1 billion could infringe upon the treaty's provisions.

Earlier this month, Nauru, whose population is 12,000, revealed an investment agreement with China's Rural Revitalization and Development Corp. The Australia-Nauru treaty, unveiled in December, includes A$100 million in budget support and A$40 million for security, while allowing Australia to veto Chinese involvement in Nauru's security, banking, and telecommunications.

The treaty awaits ratification by Australia, delayed due to parliamentary dissolution for a national election. Officials stress the necessity of swift ratification. Concerned, Nauru's government confirmed the Chinese investment remains under cabinet consideration. Australia plans to announce the ratification at a Pacific Island leaders meeting next month, sans Chinese presence, highlighting regional tensions.

(With inputs from agencies.)