East Timor formally admitted to Southeast Asian bloc
East Timor, Asia’s youngest country, became the 11th member of the Southeast Asian bloc ASEAN at its summit in Malaysia.
The integration of the region’s youngest and poorest country, with a population of just 1.4 million, is being hailed as a symbolic step towards regional inclusiveness.
After the East Timor flag, also known as East Timor, was added to the 10 other flags that took to the stage at an official ceremony in Kuala Lumpur on Sunday, Prime Minister Xanana Gusmao told other leaders that “history was made today”.
“For the people of East Timor, this is not only a dream come true, but also a powerful validation of our journey,” he said.
East Timor was a Portuguese colony for more than four centuries before Indonesia’s 1975 invasion.
ASEAN membership gives Timor-Leste access to the bloc’s free trade agreements, investment opportunities and a broader regional market; this is vital to diversifying an economy that has long been dependent on oil and gas.
It struggles with high levels of unemployment and malnutrition, with 42 percent of the population living below the national poverty line.
Almost two-thirds of the country’s citizens are under the age of 30, making youth job creation a high priority.
The main source of government revenue comes from the oil and gas industry but is seeking diversification due to rapid depletion of resources.
“This new beginning brings tremendous opportunities for us in trade, investment, education and digital economy; we are ready to learn, innovate and support good government,” Gusmao said.
“This is not the end of a journey, this is the beginning of an inspiring new chapter.”
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