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Timor-Leste and Indonesia Chambers of Commerce and Industry strengthen economic ties

Timor-Leste and Indonesia Chambers of Commerce and Industry strengthen economic ties

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DILI, 21 december 2024 (TATOLI) – The President of the Republic, Jose Ramos Horta welcomed a delegation from the Indonesian Chamber of Commerce and Industry (KADIN), led by Chairman M. Arsjad Rasjid P.M., along with representatives from Timor-Leste’s Chamber of Commerce and Industry (CCI-TL), headed by Jorge Manuel de Araújo Serrano, at the Presidential Palace. The historic first visit by a KADIN chairman to Timor-Leste marked a significant milestone in bilateral business relations, culminating in the signing of a Memorandum of Understanding (MoU) to strengthen cooperation between the two nations.

CCI-TL President Jorge Serrano emphasized the significance of Chairman Rasjid’s visit, expressing gratitude for his efforts in fostering bilateral cooperation. The new agreement encompasses multiple sectors, including agriculture, fisheries, livestock, and small business development, aimed at boosting Timor-Leste’s economic growth. Chairman Rasjid noted that successful initiatives were already in progress, citing existing rice paddy projects as an example of their productive partnership.

The Indonesian delegation shared their ambitious “08 Movement” initiative, targeting 0% poverty and 8% economic growth, while presenting Indonesia’s roadmap to become the world’s fourth-largest economy by 2045. Both parties emphasized that peace and prosperity remain the fundamental objectives of their partnership, with a focus on ensuring equitable development across both nations.

The strengthened cooperation between the two chambers of commerce aligns with Timor-Leste’s accession to ASEAN, building upon existing collaborative projects that preceded the country’s membership in the regional bloc. This expanded partnership demonstrates the growing economic ties between Indonesia and Timor-Leste, fostering mutual growth and regional stability through enhanced business-to-business relationships.

 

 

TATOLI

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