JAKARTA, June 28 (Xinhua) -- The governments of Indonesia and Timor-Leste agreed on Thursday to negotiate on the termination of double taxation and promotion of investment protection.
Indonesian President Joko Widodo welcomed his Timor-Leste counterpart Francisco Guterres Lu-Olo at a botanical garden on the outskirt of the country's capital, saying Indonesia would persist to be a trusted economic partner and major trading partner for Timor-Leste.
"I am certain that President Lu-Olo will persistently give guarantee and legal certainty for Indonesian investment," Widodo told a joint press conference after their meeting.
The president elaborated that currently there are nine Indonesian state-owned enterprises operating in Timor-Leste with a total value of investment of 595 million U.S. dollars.
Both nations agreed to step up cooperation on connectivity, including construction on a bridge in Motaain connecting the borders of the two nations, and ratchet up flight frequency between the two countries, a statement from the presidential office said.
On education, the president said that both sides shared a similar opinion for boosting cooperation in the sector.
