SYDNEY: Australia will seek to ratify a landmark security and economic treaty with its tiny neighbour Nauru by next month, Australian officials said today, amid concern a A$1 billion (US$648.85 million) Chinese investment proposal could breach its provisions.
Nauru, with a population of 12,000, announced an investment deal with the little-known China Rural Revitalization and Development Corp earlier this month.
The leaders of Nauru and Australia announced a treaty in December in which Australia pledged A$100 million in budget support and A$40 million for security, and gained a veto over Chinese involvement in critical areas including Nauru’s security, banking, and telecommunications.