Indonesia interested in investing in oil and gas in East Timor

23 March 2011

Jakarta, Indonesia, 23 March – The Indonesian government Tuesday showed interest in investing in the oil and gas sectors in East Timor as part of an official visit by Timor’s Prime Minister, Xanana Gusmão, to Indonesia.

“Indonesia is interested in investing in the oil and gas sectors. The Indonesian government has a positive view of the invitation,” from East Timor to invest in several sectors, said Teuku Faizasyah, international relations spokesman for the Indonesian President.

The Indonesian government also noted its interest in investing in infrastructures in East Timor and providing loans for the country to purchase military equipment.

Indonesia’s Defence Minister, Purnomo Yusgiantoro said that East Timor has ordered a speedboat to patrol the territory costing an estimated US$20 million.

Teuku Faizasyah was speaking at the end of a meeting with Indonesia’s President, Susilo Bambang Yudhoyono, and East Timor’s Prime Minister, Kay Rala Xanana Gusmão, to discuss bilateral relations.

According to the spokesman, President Yudhoyono re-stated Indonesia’s support for East Timor to join the Association of South East Asian Nations (ASEAN), a formal request for which was submitted on 4 March.

Yudhoyono and Gusmão signed memorandums of understanding on decentralisation and local government, diplomatic education and training, infrastructure, education and training in the transport sector and trade.

The visit by Gusmão to Indonesia is due to end on 25 March. (macauhub)