France's Macron denounces 'new imperialisms' in Indo-Pacific region, Oceania

France's president on Thursday denounced what he called the "new imperialism" in the Indo-Pacific region, particularly in Oceania, saying it is stifling development.

Visiting the South Pacific nation of Vanuatu, Emmanuel Macron accused great powers of threatening the region, with foreign ships fishing illegally, loans with harsh conditions that are "literally strangling development," unfair trade practices, and a "growing interference in the Indo-Pacific region, particularly in Oceania."

"New imperialisms appear, and a power mentality threatens the sovereignty of many states, the little ones being the most vulnerable," said the French president during a speech.

He stressed that France acknowledges its colonial past in Vanuatu, which gained independence in 1980.

Macron also said the French Development Agency would reengage in the region and provide €200 million ($222.5 million) of funding for the next five years.