BOGOR, Indonesia: Timor Leste President Jose Ramos-Horta said on Tuesday (Jul 19) throughout a visit to Indonesia that he hoped to boost business ties between the nations and seal a decades-long bid by his nation to participate the Association of Southeast Asian Countries (ASEAN) next year.
Ramos-Horta fulfilled his counterpart Joko Widodo on his very first state visit to neighbouring Indonesia since he or she was elected in April for a second stint as leader.
He earlier served as chief executive of Timor Leste between 2007 and 2012.
“Timor Leste as part of Southeast Asia has satisfied many of the requirements necessary for a functioning economic climate and democracy so… will be a productive member of ASEAN, ” he said, noting he or she hoped his younger country could join the group when Indonesia takes over the obama administration next year.
Timor Leste, which requested ASEAN membership this year, currently holds viewer status.
Speaking at the presidential structure in Bogor, southern of Jakarta, the particular Indonesian president stated his country acquired invested US$818 million in Timor Leste, mainly in energy, banking and communication businesses.
“We’ve agreed to increase business between both nations, ” said Widodo, who is widely known since Jokowi.
Standard Indonesia data shows trade between the countries was worth around US$250 million a year ago.
Heavily determined by revenue from gas and oil, the half-island nation of 1. 3 million people has grappled with diversifying its economy and reducing high rates of poverty.
Indonesia invaded the former Colonial colony in 1975 and it only gained full independence within 2002 after a lengthy and bloody struggle to end an often brutal occupation.
Ramos-Horta, who won a Nobel Peacefulness Prize for his peaceful efforts to finish the conflict, mentioned he welcomed deepening trade ties with Jakarta and Indonesia’s commitment to Timor Leste joining the 10-member ASEAN regional grouping.