"The government of Timor Leste has proposed establishing `Development of Regional Integrated Economic Approach` in the border between Timor Lester and Indonesian province of East Nusa Tenggara," he said here on Tuesday explaining issues discussed with visiting Minister of Economic affairs and Development of Timor Lester, Joao Mendez Goncalves.
In connection with that Hatta said the government of Timor Leste has suggested the formation of a task force at a technical level tasked with conducting a study on concept development and implementation of the plan.
"The Timor Leste government wishes to increase bilateral economic cooperation which has so far been developing well," he said.
With the cooperation Hatta hoped Indonesia`s exports to several countries that impose zero percent tariff could be done through Timor Leste.
Hatta however did not tell about the value of investment needed to develop the region.
Apart from that he said the Timor Leste government had also expressed appreciationto capacity building program that Indonesia has given in the fields of cooperatives and small and medium enterprises as well as planning, financial and development supervision, environment and banking affairs.
"The Timor Leste government thanked Indonesia for the program it has given so far," he said.
The total value of trade between the two countries at present stood at US$221.52 million. It has in the past five years risen by 109.36 percent.(*)
Editor: Heru Purwanto
Copyright © ANTARA 2012
