Indonesia and Timor-Leste commit to strengthen the co-op region

The two nations signed a memorandum of understanding in Jakarta

Indonesia and Timor-Leste have agreed to work together to strengthen the co-operative and micro, small, and medium enterprises (MSMEs) landscape across the two nations.

Representatives signed a memorandum of understanding (MoU) between Indonesia and Timor-Leste at an event in Jakarta in February, which outlines plans for capacity building, co-operative partnerships, feasibility studies, and training.

Indonesia’s minister of co-operatives and SMEs said the partnership is needed because “global economic growth is no longer in one country but in the region,” reported Antara News.

“I hope this MoU can be implemented well, and all parties can take advantage of this opportunity well, and if successful, this can be continued for the next MoU period,” he added.

The signing of the MoU follows an earlier meeting between the two countries during the Association of Southeast Asian Nations (ASEAN) Inclusive Business Summit in 2023.

Timor-Leste’s secretary of state for co-operatives, Arsénio Pereira da Silva, was quoted saying: “The point is how the two countries can complement each other in the cooperative sector, learn from one another, and grow together, as we are in one region, ASEAN.”