DILI, 30 july 2024 (TATOLI) – Timor-Leste has taken a significant step to strengthen its economic development by signing key cooperation agreements with the People’s Republic of China.
The signing ceremony took place in Beijing, China, and was witnessed by the President of the Democratic Republic, José Ramos-Horta, and his Chinese counterpart, Xi Jinping.
Vice-Prime Minister and Coordinating Minister for Economic Affairs, Francisco Kalbuadi Lay, signed a Memorandum of Understanding with Chinese Minister of Commerce Wang Wentao. The agreement focuses on strengthening investment cooperation in the digital economy and promoting green development. An additional agreement was signed with the China International Development Cooperation Agency to advance infrastructure projects in Timor-Leste.
During the visit, President Xi expressed China’s support for Timor-Leste’s accession to ASEAN and the World Trade Organization.
The Chinese leader also committed to sharing development opportunities through various regional cooperation platforms.
These agreements, authorized by Timor-Leste’s Council of Ministers on july 17, are expected to significantly boost investment in Timor-Leste’s digital and green sectors, while also enhancing infrastructure development with Chinese support. This marks a major milestone in Timor-Leste’s economic diplomacy and underscores the country’s commitment to expanding its international partnerships for sustainable development.
Journalist: Camilio de Sousa
Editor: Filomeno Martins
