Thursday, August 25, 2011

TIMOR LESTE’S INTEGRATION INTO ASIA IS RIPE

TIMOR LESTE’S INTEGRATION INTO ASIA IS RIPE

Erle Frayne D. Argonza

Certain quarters among Asia’s continental stakeholders are of the opinion that it is ripe for Timor Leste to be integrated into the Asian economies. I am in complete agreement with the same stakeholders, even as I am of the opinion that the more prosperous Asian countries should land a greater hand in helping out the new independent state to accelerate development.

I also hold the standpoint that Timor Leste, which lies to the east of Indonesia, should someday become a full member of the ASEAN. It must first of all prove its own capabilities to achieve a relative state of political stability and move forward to modernizing its institutions and enabling policy environment.

Incidentally, the Asian Development Bank has been a lead stakeholder in aiding Timor Leste move towards the direction of integration into Asia. Below is a report on the ADB initiatives being undertaken toward such end.

[Philippines, 11 August 2011]

president-kuroda-timor-leste-should-boost-integration-share-asias-success

President Kuroda: Timor-Leste Should Boost Integration to Share in Asia's Success

12 Jul 2011

DILI, TIMOR-LESTE – Timor-Leste has made significant progress in recent years in securing peace and stability and initiating a new development phase, and now needs to strengthen links with its neighbors, Asian Development Bank President (ADB) Haruhiko Kuroda told the 2011 Timor-Leste Development Partners Meeting here today.

“The longer term future of Timor-Leste lies in close integration with Asian economies. Such integration will help generate private sector-led economic growth needed to sustain development,” said Mr. Kuroda.

The Timor-Leste Development Partners Meeting is an annual gathering of the Timor-Leste Government, civil society, donors and private sector representatives looking at how best the nation can tackle economic development and other issues. At this year’s meeting, Timor-Leste Prime Minister Kay Rala Xanana Gusmao launched Timor-Leste’s Strategic Development Plan for 2011-2030.

During his address President Kuroda said that the rebalancing of economic activity toward regional and domestic demand and the emergence of a higher-spending middle class in Asia provide ideal conditions for Timor-Leste to look outward for new sources of economic growth. He urged Timor-Leste to continue investing in infrastructure and innovation, education, and regional cooperation initiatives to take advantage of this opportunity.

Since ADB began operations in Timor-Leste in 1999, it has received six grants from the Trust Fund for East Timor totaling $52.8 million, three Asian Development Fund (ADF) grants of a total $62.0 million, and 31 technical assistance (TA) funds worth $29.11 million. Currently, two ADF grants of $52.0 million and six TA projects worth $18.4 million are active.

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