The Noumea Accord was, in essence, a promise by the French Republic to grant increased political power to New Caledonia and its Kanak population.
It recognised, for the first time, the impact of colonisation on the Kanak people and outlined a 20-year transition period before three referenda on self-determination would take place.
Kanak politician Patricia Goa said independence would acknowledge the sovereignty of her community and would be a move towards decolonising New Caledonia.
Ms Goa said the importance of independence and sovereignty outweighed the alleged benefits of France's presence in the territory.
"No matter how much money you're going to put into this country, no matter how much effort you put into this country … as long as we are one Kanak, we will still call for freedom, sovereignty and independence," she said.
"The fact of colonialism must disappear."
Then there is France, which is supposed to stay impartial and has made a point of not commenting publicly ahead of major electoral processes.
However, Ms Fisher said, while Paris had managed to stay impartial for the first two votes, that's changed this time around.
"[There] has been a little bit more nudging towards a vote to stay with France and there are numerous examples," she said.
Ms Fisher said the French government was obligated to issue materials on how to vote, but this year it was "pretty much a loyalist campaign brochure and, in fact, the loyalists are using it as a campaign brochure".
Since it stopped nuclear testing in French Polynesia and since it negotiated agreements like the ones that are just coming to an end, the Pacific Islands have welcomed France as a constructive regional partner.
"And, for Australia, this is extremely significant to have a strong, resourced, constructive Western ally in the region."
with four territories, 560,000 French citizens and almost 3,000 military personnel — France has a significant presence in the Pacific.
He said its territories — New Caledonia, Wallis-and-Futuna, French Polynesia and Clipperton — gave France "naval and economic advantages" and "allow Paris to project power across the region".
New Caledonia is also home to a French military base and sits on one quarter of the world's nickel deposits, a mineral which is widely used in batteries.
"New Caledonia is key to the Pacific aspect of France's Indo-Pacific strategy," Mr Dayant said.
"Losing New Caledonia would diminish Paris's voice in the Pacific."