East Timor signs agreements with China for aid and to boost cooperation

20 June 2011

Dili, East Timor, 20 June – The government of East Timor Friday in Dili signed two agreements with China for Chinese aid to East Timor’s development and to expand cooperation to the construction of infrastructures, said Timor’s economy minister, João Gonçalves.

According to the minister, the two agreements aim to move head with measures to support Portuguese-speaking countries announced in Macau at the last ministerial meeting of Forum Macau, by Chinese prime minister Wen Jiabao.

Wen Jiabao at the time announced a number of measures to help Portuguese-speaking countries, provided via subsidies and loans with preferential rates of interest, and the two agreements signed Friday extend cooperation to construction and refurbishment of infrastructures, which is a long-held wish of the Timor government which, alongside training, is focusing on infrastructures for its development.

The agreement was signed by East Timor’s Foreign Affairs Minister and overseen by Prime Minister Xanana Gusmão, and by China’s deputy Trade Minister, Jiang Yao Ping, who is on an official visit to East Timor.

In 2010 trade between China and East Timor totalled US$43.08 million, which was a year on year rise of 80 percent. (macauhub)