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French Overseas Territory / 0 Products
The French Overseas Territories are the territories that are still politically part of France but are not located in Europe. These territories can be further broken down into four categories: overseas regions, overseas collectivities, special status region, and the overseas uninhabited territory. The five overseas regions are areas that have the same status as regions in metropolitan France. They have representation in the French parliament and are permitted to elect a member of the European Parliament. These regions are Guadeloupe and Martinique in the Caribbean, French Guiana in South America, and Mayotte and Reunion in the Indian Ocean. The five overseas collectivities are semi-autonomous administrative divisions of France. They have representation in the National Assembly, Senate, Economic, and Social Council. However, they are not part of the European Union. These overseas collectivities are Saint-Barthelemy and Saint-Martin in the Carribean, Saint Pierre and Miquelon in North America, and Wallis and Futuna and the French Polynesia in the Pacific. The special status of New Caledonia is due to the Noumea Accord, a promise by France to grant increased political power to Kanaks in New Caledonia in 1998. The twenty-year period has already passed, and after two referenda, New Caledonia remains to be a special region in France. Because of the Noumea Accord, France has control over military and foreign policy, immigration, police, and currency unless the region votes to become an independent state.
Unlike the five overseas regions and mainland France, the overseas collectivities and New Caledonia continue to use the CFP franc, also known as the French Pacific Islands franc. The CFP franc is managed, issued, and maintained by the Institut d’Emission d’Outre-Mer (Overseas Issuing Institute or IEOM). The institute was founded and chartered in 1966. The franc notes issued by the institute in 1985 featured different landscapes, cultural artefacts, and prominent peoples and figures. The institute issued a new family of banknotes in 2014 that featured flora and vegetation, fauna, sea fauna, and architecture. These notes have extra security features to deter counterfeiting, and use intaglio printing to aid the sight-impaired.
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