• BUSINESS
    • FINANCE
    • LEGAL
    • RETAIL & CONSUMER
    • AUTOS & TRANSPORTATION
    • HEALTHCARE & PHARMACEUTICALS
    • MEDIA & TELECOM
    • AEROSPACE AND DEFENSE
    • ENERGY
  • MARKETS
    • EUROPEAN MARKETS
    • ASIAN MARKETS
    • U.S. MARKETS
    • COMMODITIES
    • EMERGING MARKETS
    • DEALS
    • RATES & BONDS
  • WORLD
    • UNITED STATES
    • EUROPE
    • UNITED KINGDOM
    • ASIA PACIFIC
    • MIDDLE EAST
    • AFRICA
    • CHINA
    • INDIA
    • JAPAN
    • AMERICAS
    • FRANCE
    • GERMANY
  • POLITICS
    • GOVERNMENT
    • UNITED STATES
    • US SUPREME COURT
  • TECH
    • ARTIFICIAL INTELLIGENCE
    • CYBERSECURITY
    • SPACE
    • DISRUPTED
  • COMMENTARY
  • BREAKINGVIEWS
    • BREAKINGVIEWS PREDICTIONS
  • MONEY
    • WEALTH
    • FUNDS
    • ETFS
  • LIFE
    • LIFESTYLE
    • SPORTS
    • SCIENCE
  • SECTORS
    • ENERGY
    • HEALTHCARE
    • MEDIA & TELECOM
    • SUSTAINABILITY
    • ENVIRONMENT
    • RETAIL & CONSUMER
    • AUTOS & TRANSPORTATION
    • AEROSPACE AND DEFENSE
FinanceTime
  • August 20th, 2026

FinanceTimeFinancetime

  • BUSINESS
    • FINANCE
    • LEGAL
    • RETAIL & CONSUMER
    • AUTOS & TRANSPORTATION
    • HEALTHCARE & PHARMACEUTICALS
    • MEDIA & TELECOM
    • AEROSPACE AND DEFENSE
    • ENERGY
  • MARKETS
    • EUROPEAN MARKETS
    • ASIAN MARKETS
    • U.S. MARKETS
    • COMMODITIES
    • EMERGING MARKETS
    • DEALS
    • RATES & BONDS
  • WORLD
    • UNITED STATES
    • EUROPE
    • UNITED KINGDOM
    • ASIA PACIFIC
    • MIDDLE EAST
    • AFRICA
    • CHINA
    • INDIA
    • JAPAN
    • AMERICAS
    • FRANCE
    • GERMANY
  • POLITICS
    • GOVERNMENT
    • UNITED STATES
    • US SUPREME COURT
  • TECH
    • ARTIFICIAL INTELLIGENCE
    • CYBERSECURITY
    • SPACE
    • DISRUPTED
  • COMMENTARY
  • BREAKINGVIEWS
    • BREAKINGVIEWS PREDICTIONS
  • MONEY
    • WEALTH
    • FUNDS
    • ETFS
  • LIFE
    • LIFESTYLE
    • SPORTS
    • SCIENCE
  • SECTORS
    • ENERGY
    • HEALTHCARE
    • MEDIA & TELECOM
    • SUSTAINABILITY
    • ENVIRONMENT
    • RETAIL & CONSUMER
    • AUTOS & TRANSPORTATION
    • AEROSPACE AND DEFENSE
U.S. Special Representative for North Korea Policy Joseph Yun arrives at a meeting with the media in Bangkok, Thailand December 15, 2017. Jorge Silva
U.S. Special Representative for North Korea Policy Joseph Yun arrives at a meeting with the media in Bangkok, Thailand December 15, 2017. Jorge Silva
Home
World
Asia Pacific

US and Micronesia agree to renew strategic pact, US envoy says

May 15th, 2023 | 16:13 PM WORLD Asia Pacific 3

Facebook Twitter Google+ LinkedIn Pinterest

Worth reading...

Japan exports rise 23.2% year/year in July
North Korea's Kim Yo Jong denies Zelenskiy's claim on additional troops deployment
Hyundai Motor India to raise car prices by up to 1% from September
Hong Kong exchange posts record half-year profit on trading, fundraising boom
By David Brunnstrom

The United States and Micronesia agreed on Monday to renew a key strategic pact, U.S. presidential envoy Joseph Yun said, adding that he hopes for similar progress with Palau, as the U.S. shores up support among Pacific island states to counter competition from China.

Yun told Reuters the Compact of Free Association agreement (COFA) with Micronesia would be signed on May 22 at a ceremony in Papua New Guinea, attended by U.S President Joe Biden and new Micronesian President Wesley Simina.

Yun said he expected to be in the Marshall Islands from Thursday until Sunday, but was "doubtful" its COFA agreement could be finalized at the moment.

Washington first reached the COFA accords with the three island states in the 1980s, under which it retains responsibility for their defense and provides economic assistance and gains exclusive access to huge strategic swaths of the Pacific in return.

Renewing the COFA agreements has become a key part of U.S. efforts to push back against China's bid to expand its influence in the Pacific.

Yun said he initialed the agreement with his Micronesian negotiating counterpart Leo Falcam and would formally sign it with him next week in Port Moresby on the sidelines of a second summit between the United States and Pacific island leaders.

"It's absolutely a done deal," he said, adding: "I am (now) going to go to Palau. Where I hope to make similar progress."

Biden will next week become the first sitting U.S. president to visit the Pacific islands state of Papua New Guinea following a G7 summit in Japan, underscoring his investment in the Pacific region to counter China.

The old COFA provisions expire in 2023 for the Marshall Islands and Micronesia and in 2024 for Palau.

Yun give no reason for the holdup with the Marshall Islands, but parliamentary elections are expected there in November.

Washington has already signed memorandums of understanding on future assistance with the three COFA states. Yun said last month the "topline" agreements would provide them with a total of about $6.5 billion over 20 years.

Asked about the Marshall Islands, another senior U.S. official said "this is no longer about the amount of money but ... about how the money will be structured and how it will be spent and what issues it will cover.

"These are always politically very, very sensitive in each country," he said, adding, using the initials of the Republic of the Marshall Islands: "In the longer term, I'm very optimistic that we will get an agreement with RMI."

Last year, more than 100 arms-control, environmental and other activist groups urged the Biden administration to formally apologize to the Marshall Islands for the impact of massive U.S. nuclear testing there and to provide fair compensation.

Marshall Islanders are still plagued by health and environmental effects of the 67 U.S. nuclear bomb tests from 1946 to 1958, which included "Castle Bravo" at Bikini Atoll in 1954 - the largest U.S. bomb ever detonated.

  • Topic
  • USA
  • PACIFIC/ISLANDS (UPDATE 2, PIX)
Facebook Twitter Google+ LinkedIn Pinterest
Previous article Japan exports rise 23.2% year/year in July

Related Posts

Asia Pacific
August 19th, 2026

Japan exports rise 23.2% year/year in July

Asia Pacific
August 19th, 2026

North Korea's Kim Yo Jong denies Zelenskiy's claim on additional troops ...

Asia Pacific
August 19th, 2026

Hyundai Motor India to raise car prices by up to 1% from September

Asia Pacific
August 19th, 2026

Hong Kong exchange posts record half-year profit on trading, fundraising...

Asia Pacific
August 19th, 2026

After Philippines school shooting, debate shifts to social media, gun sa...

Asia Pacific
August 19th, 2026

Thai schools hold shooting response drills after deadly school attack

The Wire
Aug 20th 1 h ago
Investigates

In China, rocket launches fuel tourism and space-age dreams

Aug 19th 2 h ago
Asia Pacific

Japan exports rise 23.2% year/year in July

Aug 19th 2 h ago
Baseball

D-backs score twice in 10th, salvage series finale at Red S...

Aug 19th 2 h ago
Government

US tells schools not to alter discipline policies to reduce...

Aug 19th 3 h ago
Transactional

China tax crackdown forces wealthy investors to assess thei...

TRENDING ON FINANCETIME
Aug 19th, 2026 Tennis

Paul ousts top seed Zverev to reach Cincinnati quarter-finals

Aug 19th, 2026 Litigation

AIA Group's first-half new business value rises 10%

Aug 19th, 2026 Energy

Brazil's largest thermal power plant shut down after equipment failure

Aug 19th, 2026 United Kingdom

Key moments in Prince Harry and Meghan's six years in California

Aug 19th, 2026 Sports

Orioles reinstate C Samuel Basallo (shoulder) to active roster

Markets-Sectors
ENERGY -0.16%
FINANCIALS -0.62%

  • BUSINESS
  • MARKETS
  • WORLD
  • POLITICS
  • TECH
  • COMMENTARY
  • BREAKINGVIEWS
  • MONEY
  • LIFE
  • SECTORS
  • Back to top
FinanceTime
FinanceTime

World Business & Financial News, Breaking US & International News

Additional Services
  • Privacy-Policy
  • Terms and Conditions
© Financetime.org 2026. All rights reserved. Hosted by LeadsDeposit.com
Produced by C-iT