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Economic Boost for Timor Leste

March, 02 2017
watermark Economic news

The country bounded in the Western Indonesia, Timor Leste or called East Timor in the past has officially gained its independence from the Indonesian republic after 15 years due to the involvement of armed forces sent by Australia and New Zealand.

Timorese Prime Minister Rui Maria de Araújo met PM Bill English in New Zealand to sign a formal agreement which affirms improvement in the organic coffee production in Timor coupled with the assistance for government spending.

The 52-year old, de Araújo further mentioned that the country needs some diversification away from oil since reserves were seen insufficient.

The arrangement further includes the support from NZ in the agricultural sector to help small farmers in the rehabilitation of coffee plantations together with community policing which is highly regarded in NZ.

While Australia considers the maritime zones and limits of Timor regarding the establishment of oil and gas reserves.

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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.