Australia and France have reached a settlement of € 555 million for last year the cancellation of the submarine agreementwith Canberra seeking to repair the diplomatic rift between the two countries.
THE Australia canceled a multibillion-dollar submarine order with French naval group Naval Group last year and opted for an alternative deal with the United States and Britain.
The move angered Paris and sparked an unprecedented diplomatic crisis.
Australian Prime Minister Anthony Albanese told a news conference in Sydney that his government reached a “correct and just” settlement with the Naval Group.
Last year, Canberra canceled an order for a new fleet of conventional submarines with Naval Group – valued at $ 40 billion in 2016 and estimated to cost much more today – after the previous government signed a tripartite security alliance with the US and Britain. The tripartite pact concerned a fleet of nuclear-powered submarines with American and British technology.
Albanese says settlement will return to Australia to go further in its relationship with France.
“Given the gravity of the challenges we face in the region and internationally, it is important that Australia and France reunite to defend our common principles and interests.”Albanezi said in a separate statement.
Australia, the United States, France and their partners have all expressed concern about China’s growing influence in the Pacific.
“We deeply respect the role of France and its active presence in the Indo-Pacific region”said Albanezi.
Source: News Beast
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