DILI, 18 december 2024 (TATOLI) – The European Union (EU) remains committed to continue supporting Timor-Leste’s ambition to become a member of the Association of Southeast Asian Nations (ASEAN), in the very near future.
The Council of Ministers endorsed the Initial Market Access Offers on Goods and Services for Timor-Leste to start formal negotiations to accede to the main ASEAN economic agreements.
On december 16, the Council of Ministers announced via a press release the approval of Timor-Leste’s Initial Market Access Offers for the accession to the ASEAN Trade in Goods Agreement (ATIGA) and the ASEAN Framework Agreement on Services (AFAS) and the ASEAN Trade in Services Agreement (ATISA). The successful conclusion of negotiations on the related ASEAN agreements is a prerequisite for Timor-Leste to join the Organization. As highlighted by the Government, ASEAN membership is regarded as a “critical pillar of the Government’s strategy for integrating the country into the global and regional economy
The European Union, through the “Support to Regional Integration and Trade” project, implemented by International Trade Centre, is playing a significant role in supporting the Government and the ASEAN Technical Working Group in the preparation of the Initial Market Access Offers for these agreements, as well for the ASEAN Comprehensive Investment Agreement (ACIA) and the ASEAN Movement of Natural Persons Agreement (MNP). The European Union remains committed to continue providing assistance throughout the negotiating process.
The ASEAN region is one of the most dynamic regions in the world, with more than 620 million citizens and a GDP well beyond US$3 trillion. Becoming member of the ASEAN, the biggest trade and investment partner of Timor-Leste will grant the country enhanced access to regional and world markets, opening new opportunities for Timorese products and services.
Related News: Govt approves TL’s initial proposal for accession to AFAS, ATISA and ATIGA
Journalist: Camilio de Sousa
Editor: Filomeno Martins
