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.
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