The Indonesia-Timor Leste Bilateral Meeting is a Positive Signal for the Socio-Economy of the Two Countries

West Manggarai – At the opening of the ASEAN Summit in Labuan Bajo, West Manggarai, East Nusa Tenggara (NTT). President Joko Widodo welcomed Timor Leste’s joining ASEAN.

“To the Prime Minister of Timor-Leste, Welcome to join the ASEAN family,” said Indonesian President, Joko Widodo.

By joining Timor Leste with ASEAN, it can contribute more to ASEAN’s economic development. PM Ruak said the Timor-Leste government would also comply with the follow-up to the Roadmap which was agreed upon jointly with other ASEAN members.

“The joining of Timor-Leste is a historic moment. Because it can have a positive impact on various sectors, both economic and social. That way, the various developments that have been carried out can continue to be carried out,” said Timor-Leste Prime Minister Taur Matan Ruak.

PM Ruak also thanked President Joko Widodo for his support so he could join the ASEAN members.

“Thank you to His Excellency Joko Widodo, President of Indonesia, Chair of ASEAN 2023, for his support and commitment so far,” said PM Ruak.

Previously, the President of the Republic of Indonesia Joko Widodo had a bilateral meeting with Prime Minister of Timor Leste Matan Ruak on the sidelines of the 42nd ASEAN Summit in Labuan Bajo, West Manggarai, East Nusa Tenggara (NTT).

During the meeting, Indonesian Minister of Foreign Affairs (Menlu) Retno Marsudi said that the President emphasized the importance of economic cooperation. in the border area as a follow-up to the results of the meeting when PM Ruak made a state visit to Indonesia some time ago.

“The two leaders agreed that a joint working group would be formed to prepare for the development of an economic zone on the border between the two countries,” said Foreign Minister Retno.

President Jokowi and PM Ruak also agreed to push for the start of the formation of a Bilateral Investment Agreement (BIT) as a further step to strengthen Indonesia-Timor Leste economic cooperation

“As with Vietnam, we are seeing more and more investment from the two countries. Therefore, Indonesia proposes that a BIT (Bilateral Investment Treaty) be formed immediately or discussed between the two countries,” said Retno.