The European Union is expected to sign a memorandum of understanding with New Caledonia on Tuesday covering the French Pacific territory's nickel, RNZ reports. European Commission executive vice-president Stéphane Séjourné, who is responsible for prosperity and industrial strategy, is on a four-day visit and addressed the territory's Congress on Monday.
He said the EU regards nickel as a strategic raw material and wants to bring New Caledonian producers and European buyers closer together, giving investors a stable framework. The offer also extends to energy, vocational training, social cohesion and infrastructure, including upgrades to the port and airport in Nouméa and new undersea cables to Asia and other Pacific islands. A European Investment Bank vice-president is due to visit in early December to finalise investments. The EU classes New Caledonia as an overseas country and territory.
Source: RNZ
