President hosts welcome ceremony for Timor-Leste leader

President To Lam hosts a red-carpet welcome ceremony for President of Timor-Leste José Ramos-Horta. (Photo: VNA)

This is the second trip to Vietnam by José Ramos-Horta following the first in 2010, and the fourth by a high-ranking leader of Timor-Leste.

Since the establishment of the diplomatic relations on July 28, 2002, Vietnam and Timor-Leste have seen substantial development in their friendship and multi-faceted cooperation. They have maintained close ties and supported each other in the international arena, while leaders of both sides have kept high-level contacts.

The two nations have enhanced collaboration and coordination at both regional and international forums. Vietnam, together with other ASEAN nations and the ASEAN Secretariat, has always supported Timor Leste to fulfil the criteria necessary for ASEAN membership.

Two-way trade between Vietnam and Timor-Leste remains modest, mainly driven by Vietnam’s rice and garment-textile exports to Timor-Leste. Last year, Vietnam’s shipment to the country stood at 15.49 million USD, while its import was worth 371,000 USD. In the first five months of this year, Vietnam sold 6.09 million USD worth of goods to Timor-Leste, up 29.4% year-on-year

Regarding investment, Viettel Telemor run by Vietnam’s Military Industry and Telecommunications Group (Viettel) has gained a firm foothold in the market with its investment capital rising to 15 million USD from the initial 500,000 USD in 2012, becoming one of the three largest telecom service providers in the country.

Timor-Leste holds substantial potential for Vietnam’s exports like rice, processed food, milk and dairy products, footwear, beverages, household utensils, and machinery. Meanwhile, to serve its economic activities in the coming years, Vietnam will need more inputs such as fuels (oil and gas), raw wood, and minerals, which are of Timor-Leste’s potential.

José Ramos-Horta’s state visit is of significance to consolidating political trust while creating opportunities for both nations to continue discussing measures to boost their cooperation and deepen the bilateral ties, thus tightening the traditional friendship that has been nurtured over the past time.