Through the ASEAN Summit, Indonesia – Timor Leste Agreed to Form an Economic Zone Development Working Group
Labuan Bajo – President Joko Widodo (Jokowi) and Prime Minister (PM) of Timor-Leste Taur Matan Ruak agreed to form a working group that will prepare for the development of an economic zone on the border of Indonesia – Timor Leste.
This was agreed after a bilateral meeting with Timor-Leste PM Taur Matan Ruak at the Meruorah Hotel, Labuan Bajo, East Nusa Tenggara Province (NTT), Tuesday (9/5/2023).
The Prime Minister of Timor-Leste, Taur Matan Ruak also expressed his gratitude and appreciation for Indonesia’s support for Timor-Leste’s membership in ASEAN.
The Indonesian Minister of Foreign Affairs (Menlu) Retno Marsudi in her statement after accompanying President Jokowi in the bilateral meeting said the President emphasized the importance of economic cooperation.
“This includes the border areas between the two countries. This has also been discussed during the visit of the Prime Minister of Timor Leste to Jakarta some time ago,” said Foreign Minister Retno.
During the meeting, Indonesia proposed the formation of a BIT between the two countries.
“As with Vietnam, we are seeing more and more investment from the two countries. Therefore, Indonesia proposes that a Bilateral Investment Treaty (BIT) can be formed immediately or discussed between the two countries,” said the Indonesian Foreign Minister.
Furthermore, Foreign Minister Retno revealed that the President also reminded him of the importance of immediately completing land boundary negotiations.
During the 2023 ASEAN Indonesia Chair, a roadmap for Timor Leste to become a full member was agreed. Timor Leste is expected to soon meet the criteria in the roadmap that will be adopted at the summit of heads of state, so that it can become a full member of ASEAN.
Also accompanying the President in the bilateral meeting were Minister of Foreign Affairs Retno Marsudi, Minister of State Secretary Pratikno, and Coordinating Minister for Political, Legal and Security Affairs Mahfud Md.
