The Australian Government Department of Foreign Affairs and Trade will employ a lottery system that will randomly select eligible applicants to apply for the visa, it added.

The programme is aimed at increasing permanent migration from the region along with encouraging greater cultural, business and educational exchange.

Applicants will be able to participate annually in the process that has the capacity to give permanent residence visas to up to 3,000 people from the designated countries.

Additionally, the programme is expected to also include the spouses and dependent children of the visa candidates for which the ballot is set to open in 2024.

Read: After UK, Australia plans to strict student visa rules

Nationals of countries such as Micronesia, Fiji, Kiribati, Nauru, Palau, Papua New Guinea, the Republic of the Marshall Islands, Samoa, Solomon Islands, Timor-Leste, Tonga, Tuvalu, and Vanuatu are all eligible to apply.

The applicants are required to be between 18 and 45 years old, should be selected through the ballot and secure a job awaiting them in Australia.

English language proficiency, character and health among others are also included in eligibility criteria.

A day earlier, Australia halted its “golden visa” which granted wealthy overseas investors the right to live in the country.

The move is part of the country’s broader immigration policy to attract more skilled labour to assist in boosting the country’s economy.