KUALA LUMPUR: Asean’s newest member, Timor-Leste, is keen to attract foreign investments from Southeast Asia, including Malaysia, in key sectors such as infrastructure, tourism, digital technology, petroleum and education.
To this end, President José Ramos-Horta has called on member states to expand trade and investment ties with Timor-Leste, saying that Asean membership opens up "tremendous potential” for shared economic growth and cooperation.
In an exclusive interview with Bernama following the country’s historic accession to Asean on Sunday (Oct 26), he said Timor-Leste aims to create a more attractive investment environment, particularly in infrastructure, tourism and digital technology.
"Membership in Asean brings tremendous potential benefits -- but only if we work hard to seize the opportunities.
"We must facilitate investments from Asean countries, provide incentives, protection and create a business environment that encourages partnership,” he said.
Timor-Leste’s long-awaited accession as the bloc’s 11th member was formalised through the signing of the Declaration on the Admission of Timor-Leste into Asean during the opening of the 47th Asean Summit at the Kuala Lumpur Convention Centre here yesterday.
It was the grouping’s first expansion after 26 years, with Cambodia being the last country admitted to the bloc on April 30, 1999.
Ramos-Horta also said Timor-Leste views Malaysia as a natural economic partner, citing opportunities in trade, infrastructure development, and education.
He said the government is ready to welcome Malaysian participation in airport expansion, tourism facilities and other infrastructure projects essential to Timor-Leste’s development as an emerging Asean economy.
Malaysia has supported Timor-Leste through capacity-building programmes, including three rounds of special attachments with Wisma Putra this year, and the establishment of the Timor-Leste Unit at the Asean Secretariat in Jakarta.
Malaysia was also the first Asean country to open a liaison office in Dili in 2001, and subsequently established its embassy there on May 19, 2002, on the eve of Timor-Leste’s independence.
Bilateral trade between the two countries reached RM85.68 million in 2024, with Malaysia mainly exporting products.
Timor-Leste’s economy is also looking for investors such as Petronas to invest in the Greater Sunrise gas fields, which hold an estimated 5.1 trillion cubic feet of gas and 226 million barrels of condensate.
Ramos-Horta also outlined plans to modernise its public administration and enhance human capital to support trade and productivity.
He added that Timor-Leste intends to retrain parts of its civil service and send young citizens abroad to gain skills in technology, engineering and agriculture.
"They can work in Australia, South Korea or Japan and learn new work ethics and discipline. When they return, they bring back knowledge and capital to invest in our economy,” he said.
The president stressed that Asean membership is not just about receiving support but also contributing to regional prosperity.
"We look to benefit from Asean, but also to contribute -- through peace, stability and cooperation,” he said.
"We have some of the richest marine biodiversity in the world. I invite young Malaysians, Singaporeans, and Thais who love diving to come to Timor-Leste, get to know the country, and spend money there.”
Ramos-Horta said Asean membership will further strengthen Timor-Leste’s integration into regional trade frameworks and boost investor confidence.
"The missing link in our diplomatic and economic journey was Asean, and now, the circle is complete,” he said. – Bernama
