Indonesia, Timor-Leste Push for Establishment of Bilateral Investment Treaty

INDUSTRY.co.id - The Governments of Indonesia and Democratic Republic of Timor-Leste confirmed the commitment to intensify discussion about development of economic region at border areas and to push for a bilateral investment treaty.

The statement was made by President Joko “Jokowi” Widodo during a joint press statement with the Prime Minister of Democratic Republic of Timor-Leste Taur Matan Ruak after a bilateral meeting, at the Bogor Presidential Palace, West Java province, Monday (02/13).

“We are committed to intensify discussions on economic region development at border areas of East Nusa Tenggara province [Indonesia] and Oecusse municipality [Timor-Leste]. In order to support economic cooperation particularly on the development of economic region at the borders, we have agreed to enter into discussions to establish a Bilateral Investment Treaty,” the President said.

Furthermore, the Head of State also underscored the importance of economic cooperation between the two countries.

“I look forward to the enhancement of trade relations between the two countries,” he said adding that he and his counterpart are also committed to improve connectivity by establishing a bus route connecting Kupang in East Nusa Tenggara province and Dili, the capital city of Timor-Leste.

In addition, President Jokowi also expressed his support for a lower sea transportation cost for the sake of business sector.

On border area, he told that both countries have agreed to immediately complete the construction of land border project this year, namely the Noel Besi-Citrana segment and Bijael Sunan-Oben segment.

“The completion of land border project is important before we can start discussions on maritime [border] and development of Oepoli Border Post,” he stated.

In that meeting, both leaders also discussed the enhancement of cooperation on development sector. President Jokowi said that since 2006 Indonesia and Timor-Leste have been cooperating on 258 development projects involving thousands of participants from Timor-Leste.

The President also reaffirmed his support to the development of human resources capacity. For the record, Indonesia has been providing scholarships for 489 students from Timor-Leste in the past two years.