BUSINESS, DILI, OÉ-CUSSE (RAEOA)

TL and Indonesia commit to moving forward with Free Trade Zone agreement

TL and Indonesia commit to moving forward with Free Trade Zone agreement

OÉ-CUSSE,29 november 2022 (TATOLI) – Prime Minister, Taur Matan Ruak, said Timor-Leste and the Indonesian Government will sign a memorandum of understanding for the implementation of the Free Trade Zone, at the beginning of next year.

The Free Trade Zone to be developed in an area located between the Special Administrative Region of Oé-Cusse Ambeno (RAEOA) of Timor-Leste and the Province of Nusa Tenggara Timur (NTT) that will allow the free movement of people and goods between the two countries.

“Our Government and the Head of State are still negotiating with the Republic of Indonesia on the development project of the Free Trade Zone. The ongoing preparation process is led by the Coordinating Ministry of Economic Affairs,” Prime Minister Ruak said at the RAEOA. 

He said it is vital to deepen the bilateral cooperation with Indonesia to attract foreign investment into the country: “ASEAN leaders had adopted a statement on Timor-Leste’s membership application.”

“The MoU will also facilitate Timor-Leste’s full accession as the 11th member of ASEAN in 2023,” Ruak added. 

“We need to prepare for our full membership of ASEAN. I, therefore, urge everyone to promote unity and work hard to achieve this goal,” Ruak appealed. 

 

 

Journalist: Abílio Elo Nini

Editor: Evaristo Soares Martins

Translation: Filomeno Martins/ Editor: Nelia Borges 

iklan
iklan

Leave a Reply

iklan
error: Content is protected !!