DILI, 16 october 2023 (TATOLI) – President of the Republic, José Ramos Horta, is optimistic that the United Arab Emirates (UAE) will mobilize investors to help Timor-Leste develop and diversify its economy, according to the Ministry of Foreign Affairs and International Cooperation (MNEKI-UAE).
The President made the remarks after meeting with MNEKI-UAE Minister Abdullah Bin Zayed Al Nahyan in Abu Dhabi, on sunday.
The meeting was a follow-up to the President’s meeting with UAE President Sheikh Mohamed bin Zayed Al Nahyan on friday, during which they discussed ways to accelerate the development of bilateral relations and expand cooperation in various fields, including the economy, trade, investment, and climate change.
“We also discussed the possibility of Timor-Leste and the UAE collaborating on upcoming climate change conferences, including COP28 in december, to which Timor-Leste has received two invitations, one to Prime Minister Kay Rala Xanana Gusmão and one to myself as the Head of State,” President Horta said in a statement.
The President also stressed the need for five-star hotels in Timor-Leste, as this is a requirement for joining ASEAN, and for investment in other areas that would contribute to the diversification of the country’s economy away from the oil and gas sector.
The UAE government responded that they would mobilize investors and visit Timor-Leste in the near future, the President added.
President Horta also asked the UAE to provide concessional loans to Timor-Leste but said that this would depend on the Government.
According to the plan, Timor-Leste will formally establish its embassy in Abu Dhabi in the near future, which will be a good opportunity to promote cooperation and discuss investment plans, as the UAE has also shown a strong commitment to this.
Journalist: José Belarmino De Sá
Editor: Filomeno Martins
