Speaker calls for Indonesia-Timor Leste bilateral investment pact
Antara News - 23 August 2022
Speaker calls for Indonesia-Timor Leste bilateral investment pact
To this end, trade facilitation must be pushed together, including by encouraging business and promotion mission between the two countries and pushing trade convenience in the border area.
House of Representatives (DPR) Speaker Puan Maharani has urged Indonesia and Timor Leste to form a bilateral investment treaty to create a stable investment climate and encourage more investment.
She made the suggestion after citing data showing that the value of Indonesia’s investment in Timor Leste has currently reached US$818 million, especially in banking, oil, gas, and telecommunications.
After receiving a visit from Timor Leste National Parliament President Aniceto Guterres Lopes here on Tuesday, Maharani lauded Timor Leste’s trust in Indonesian companies in terms of investment and infrastructure cooperation in Timor Leste.
In addition to an investment agreement, she also called for cooperation between the two countries’ business communities, which have experienced the impact of the COVID-19 pandemic, with enterprises owned by Indonesians in Timor Leste witnessing a decline.
"To this end, trade facilitation must be pushed together, including by encouraging business and promotion mission between the two countries and pushing trade convenience in the border area," she said.
During the meeting, Maharani discussed a number of matters regarding regional and parliament cooperation. DPR and Timor Leste’s Parliament have interacted at a number of forums such as the Inter-Parliamentary Union (IPU).
"DPR considers parliament diplomacy, whether bilateral, regional, and global, to be important. Parliament diplomacy should be done to complement diplomacy between governments," Maharani said.
In addition, the Speaker expressed pleasure over Guterres Lopes’ visit, noting that 2022 marks the 20th anniversary of Indonesia’s diplomatic relations with Timor Lester, which have been fostered since July 2, 2002.
"I am happy to hear about President Ramos-Horta’s visit on July 19, 2022, to Indonesia, which had produced various important agreements between the two countries," she added.
On the occasion, Gueterres Lopes said that he expects the establishment of cooperation between the countries’ parliaments, including between Indonesia and Timor Leste Parliament’s secretariat.
