British Prime Minister David Cameron and French President Nicolas Sarkozy signed two treaties which they say will allow them to remain global players while cutting defence budgets in the wake of the financial crisis.

The neighbouring NATO members -- rivals for centuries who fell out spectacularly over the 2003 Iraq invasion -- insisted the pact would not deprive their militaries of the ability to act independently.

"Today we open a new chapter in a long history of cooperation on defence and security between Britain and France," Cameron told a joint press conference after the signing ceremony, framed by the French and British flags.

The deal includes the shared use of aircraft carriers from about 2020, a joint rapid reaction force of up to 5,000 troops deployable from next year and plans to share nuclear testing equipment by 2015.

Sarkozy said the deal was "historic" and "unprecedented".

"In France, sovereignty is as touchy an issue as it is in Britain," the president said. "But together, we will be stronger, together we will do better, together we will better defend the values that we share."

France and Britain fought for dominance for centuries in battles including Agincourt and Waterloo, but they were allies in two world wars in the 20th century and now work closely together in Afghanistan.

The two leaders shook hands warmly after signing the treaties, and Cameron called the president a "great friend", while Sarkozy referred during his remarks to "Cher David" (my dear David).

Cameron said the two cross-Channel neighbours were "natural partners" but added: "Britain and France are and will always remain sovereign nations able to deploy our armed forces independently."

He also said alleged Al-Qaeda parcel bombs sent from Yemen and discovered on US-bound flights last week "have reminded us that our societies and our security have never been more connected."

The first treaty covers a wide agreement on defence, including the creation of a new combined joint expeditionary force, which will begin training next year and would be deployed on an ad hoc basis under a single commander.

The two countries will also share the use of their aircraft carriers from 2020. With each country operating only one carrier, they will be able to use the other nation's vessel when theirs is under maintenance.

Cooperation is planned in the maintenance and training for the new A400M transport aircraft they are both buying, while the two nations will also look into jointly building a new generation of unmanned surveillance aircraft.

The second treaty will cover plans to share technology in the testing of nuclear weapons -- although officials stressed this would not see the two countries share nuclear secrets, nor the codes to their nuclear submarines.

Paris and London will test the safety of their nuclear arsenals at a joint simulation centre at Valduc, eastern France, which will work with a French-British research site in Aldermaston, southern England.

Sceptics recall that 12 years ago British premier Tony Blair and French president Jacques Chirac hailed their intention to cooperate on defence issues.

Little came of it and the pair disagreed over the war in Iraq, which emphasised Britain's focus at that point on relations with the United States rather than its EU partners.

However, many experts believe current constraints will force Cameron and Sarkozy to make the new deal work -- they have both slashed defence budgets as they seek to pay off deficits built up in the financial crisis.

"They will make it work because they have to," Julian Lindley-French, professor of defence strategy at the Netherlands Defence Academy, told AFP.

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