Newly signed pacts between China and Timor-Leste amount to a comprehensive strategic partnership and fulfil the young island nation’s aim of strengthening ties with major economies, reports Reuters.
According to the Chinese foreign ministry, President Xi Jinping and Timorese Prime Minister Xanana Gusmão met over the weekend in Hangzhou, China, ahead of the opening ceremony of the Asian Games.
Agreements signed between the two cover an expansion of bilateral investment, potential joint exploration for oil and gas, and high-level military interactions.
[See more: The Chinese navy brings free medical services to Timor-Leste]
The two will also be cooperating in economic areas such as food sufficiency, industrial revitalisation and Beijing’s signature Belt and Road initiative.
The oil and gas agreement comes at a particularly welcome time for Timor-Leste, since the Bayu Undan oil and gas field, the main source of revenue for the country, stopped producing gas last year.
In terms of military cooperation, both sides pledged to boost personnel training and equipment technology, as well as hold joint exercises. Timor-Leste reiterated its continued adherence to the “One China” principle.
