Indonesia, Timor Leste agree on investment treaty talks
Indonesian President Joko Widodo and Timor Leste Prime Minister Taur Matan Ruak agreed on a number of commitments, including one related to the establishment of a bilateral investment treaty, during their meeting in Jakarta on February 13.
Indonesian President Joko Widodo (R) and Timor Leste Prime Minister Taur Matan Ruak (Photo: tempo.co)
Jakarta (VNA) – Indonesian President Joko Widodo andTimor Leste Prime Minister Taur Matan Ruak agreed on a number of commitments, including one related to the establishment of a bilateral investment treaty, during their meeting in Jakarta on February 13.
Speaking at a press conference, President Widodo said both sidesagree to push for the start of negotiations on the deal which aims to supporteconomic cooperation, particularly the development of economic zones in borderareas between East Nusa Tenggara province and Timor Leste’s specialadministrative zone Ouecusse.
He expressed his joy over closer land connectivity between thetwo countries following the launch of the Kupang - Dili bus route operated byIndonesian bus operator DAMRI last November. He also encouragedsea transportation logistics costs for business activities to be lowered.
Both countries concurred on completing negotiations for the two remaining land border segments -- the Noel Besi-Citrana Segment and the Bidjael Sunan Oben segment -- in 2023, he said.
During the state visit to Indonesia by Timor Leste President Jose Ramos Horta in July last year, the two sides inked four memoranda on agriculture, bus cross-border movement, standardisation and metrology, and tecꦗhnical cooperation in the trade sector./.
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Indonesian President Joko Widodo (R) and Timor Leste Prime Minister Taur Matan Ruak (Photo: tempo.co) 
