In 2025, Timor-Leste will join ASEAN, broadening opportunities for Portuguese-speaking nations.
President José Ramos-Horta, during a visit to Luanda, discussed economic collaboration with Angolan President João Lourenço.
Ramos-Horta envisions Timor-Leste as a future hub, redistributing products from African Portuguese-speaking nations and the Community of Portuguese-Speaking Countries (CPLP) across Southeast Asia.
He called for government support for private ventures and sustainable financing to ensure economic success.
Ramos-Horta praised Angola’s post-conflict recovery and Timor-Leste’s diplomatic strides toward ASEAN membership.
This connection promises access to a vast market with a collective GDP of $4 trillion.
Ramos-Horta thanked lusophone nations for their support during Timor-Leste’s fight for independence. He also plans to join Angola’s 50th independence celebration.
His discussions with Lourenço included strengthening economic ties within the Portuguese-speaking African countries (PALOP) and CPLP.
Simultaneously, Timor-Leste is nearing a deal with Australia and energy companies to activate the Greater Sunrise gas field, which has been dormant for 20 years.
Located near Timor-Leste, this project involves major firms, including Timor Gap and Woodside Energy.
The agreement allocates significant revenue shares to Timor-Leste, depending on the location of processing facilities.
Ramos-Horta committed to an energy transition, despite the focus on fossil fuels. He emphasized strong relations with CPLP members, advocating for practical cooperation.
Lourenço supported enhancing collaboration in sectors like petroleum and agriculture.
He proposed exploring a free trade deal between PALOP countries and ASEAN, home to some of the world’s leading economies.
With ASEAN membership and the Greater Sunrise project, Timor-Leste looks forward to new partnerships and economic growth, aiming for regional integration and economic diversification.
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