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Full membership in ASEAN will further improve business

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Prime Minister Xanana Gusmao said Timor-Leste’s full membership in ASEAN will further improve business prosperity and foreign investor confidence in the country.

This was conveyed by Xanana while giving a speech at the ASEAN Business and Investment Summit 2023, ahead of the 43rd ASEAN Summit.

Xanana emphasized that Timor Leste’s full membership in ASEAN will provide confidence and security for businesses and foreign direct investors to invest in Timor Leste.

“Attracting foreign direct investment is critical to growing East Timor’s economy, creating jobs, and modernizing and transforming our country’s economic structure,” He said.

On the same occasion, the 77-year-old prime minister also touched on the proxy war that is still going on between major countries in the world.

Xanana said the current success of ASEAN could not be separated from the occupation period that had been experienced by its member countries.

“Our region is a victim of colonialism and the Cold War, torn apart by other countries’ conflicts and wars and the demands of Western countries that led to the occupation of our country,” he said.

He added, “This is because we remember the suffering caused by the proxy wars of countries that initially refused to take sides in the great rivalry that is taking place today between the great powers of the world.”

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