DILI, 21 July 2020 (TATOLI)– The European Union (EU) Ambassador Andrew Jacob has met with TL Ministries to talk about their preparation of a new cooperation program with Timor-Leste for the period of 2021-2027.
“I have had discussions with the Minister of Finance, Deputy Prime Minister and the President for the Council of Minister’s, and We spoke what to focus on for the economic recovery program after covid-19” Ambassador Jacob told Tatoli in his office.
Mr Jacob added that the EU COVID also cooperate with TL in economic integration, hoping to prepare the country for ASEAN membership.
“Let’s say that this is the government’s ambition. In that case, we want to support the economic development and help the private sector, to more align with other countries in South East Asia. By helping to create a better investment environment in TL, we will ultimately make it easier for companies to invest, which could help with the joining ASEAN ” Ambassador Jacob said.
According to Mr Jacob TL has an opportunity for an environmentally friendly economy, by focusing on industries which respect the environment and that also make money.
“We have also been talking about an economic agreement deal; thus, I want to provide more support for economic development, with a focus on the environment, I think this is also appealing to the TL government,” he said
He acknowledges that there is a lot of potential in oil and gas. However, it is also essential to have other industries to provide the opportunity, not only for TL but for other European companies to invest in the new sectors.
The Ambassador said the first period of EU financial support to TL was 110 million from 2014-2017, but he has not announced the amount for the next period.
“I don’t yet know how much money we will have for our bilateral cooperation with TL over the next several years; however, we will potentially have more for the next period,” he said.
Journalist: Nelia Borges Rosario
Editor: Nick Kettle
