Timor-Leste keen on tapping Chinese market

The Democratic Republic of Timor-Leste's participation as a co-host and a member state of the Association of Southeast Asian Nations at a recent trade expo in the Guangxi Zhuang autonomous region has stimulated new potential for regional cooperation, officials from the Southeast Asian country said.

The 23rd China-ASEAN Expo was held in Nanning, capital of Guangxi, from Sept 17 to Monday, marking Timor-Leste's debut as an official ASEAN member state following its accession as the eleventh member in October of last year.

The country utilized this mechanism to systematically connect its advantageous industries and unique products with the massive Chinese and ASEAN markets, thereby expanding practical cooperation spaces in agriculture, infrastructure and the digital economy, among other sectors.

Timor-Leste Minister of Commerce and Industry Filipus Nino Pereira said the expo serves as an ideal platform to transform cooperation visions into practical opportunities by uniting China and ASEAN through connectivity, trade and investment.

He said Chinese investment presents a chance to build long-term partnerships, adding that his country seeks collaboration in technological skill development, industrial capacity, supply chains and market access.

Putting this vision into action during the event, the minister led a delegation and cut the ribbon for the Baucau city booth — the country's second-largest city.

The nation hosted its first investment and trade promotion conference and organized its tech startups, the internet of things enterprises and specialty product businesses in particular to participate in the expo.

The event led to multiple agreements, with the country signing a memorandum of understanding with Guangxi's chamber of commerce for overseas investment enterprises.

Sidonio Trindade da Costa Freitas, vice-president for ASEAN &WTO affairs at the Chamber of Commerce and Industry of Timor-Leste, described their first expo appearance as a historic opportunity to open the Chinese market for his country's products.

Freitas highlighted five major areas for practical collaboration, encompassing energy resources like gas fields, tourism, agriculture, the marine economy and infrastructure logistics, emphasizing the need to build regional value chains.

Duilio Marino Gusmao de Araujo, executive director of TradeInvest Timor-Leste, detailed the nation's unique investment advantages, including its strategic location, young demographic and the use of the US dollar, which eliminates exchange rate risks.

Araujo outlined seven priority investment sectors, such as agriculture, fisheries, tourism, manufacturing and renewable energy. He explained that qualified projects could receive up to a 10-year income tax exemption and complete tariff waivers on imported capital goods, adding that investors can easily register businesses through a one-stop service.

The country also made its debut in the tourism exhibition area in Guilin on Saturday.

Zhu Guoding, a travel company manager representing Timor-Leste, introduced the rare experience of diving with blue whales in the country's offshore waters between October and November.

In the commodity exhibition, Timor-Leste's pavilion showcased products ranging from data loggers and meteorological sensors to sandalwood items and coffee. Coffee remains a crucial agricultural product, accounting for nearly 90 percent of the country's non-oil export revenue.

Chen Lisong, a Chinese businessman, said Timor-Leste's coffee industry has a history exceeding a century and expressed hopes of expanding its international market reach.

Contact the writers at renqi@chinadaily.com.cn