Mozambique, Timor-Leste sign cooperation agreements-Xinhua

Mozambique, Timor-Leste sign cooperation agreements

Source: Xinhua

Editor: huaxia

2024-07-05 22:14:00

MAPUTO, July 5 (Xinhua) -- Mozambique and Timor-Leste have taken significant steps to bolster their bilateral cooperation by signing three landmark cooperation agreements Friday.

The agreements, which cover political and diplomatic consultations, hydrocarbons and mining, and science, technology, and higher education, mark a new chapter in their collaborative efforts.

The signing ceremony, held at the Presidential Palace in Maputo, the capital of Mozambique, was witnessed by Mozambique's President Filipe Nyusi and visiting Timor-Leste's President Jose Ramos-Horta, following comprehensive discussions between the two countries' delegations.

"These agreements are the culmination of extensive discussions and political consultations," President Nyusi said, highlighting the strategic importance of the partnerships. Nyusi noted that Mozambique aims to learn from Timor-Leste's experience in establishing a sovereign wealth fund, a domain where Timor-Leste has demonstrated considerable expertise.

President Ramos-Horta elaborated on Timor-Leste's Sovereign Fund, managed by the Central Bank and insulated from direct government access.

"The fund was initially established with 200 million U.S. dollars and has grown to approximately 20 billion U.S. dollars," he explained, underscoring its successful management.

In addition to the signing ceremony, President Ramos-Horta received the Key to City Maputo from Mayor Razaque Manhique. Ramos-Horta is also scheduled to meet with Esperanca Bias, president of the Assembly of the Republic of Mozambique.

This visit marks President Jose Ramos-Horta's first trip to Mozambique since assuming office in 2022, signaling a strong commitment to deepening the ties between the two nations.