Wale and Ramos-Horta discuss stronger Solomon Islands-Timor-Leste ties, economic cooperation and sovereign fund experience.
Prime Minister Matthew Cooper Wale has held bilateral discussions with the President of Timor-Leste, His Excellency José Ramos-Horta focusing on strengthening relations between Timor-Leste and Solomon Islands.
Both leaders discussed economic cooperation and shared experiences in development recently at the margins of the UNGA81, New York.
President Ramos-Horta spoke warmly of his admiration with the Melanesian Spearhead Group (MSG).
He described the people of Melanesia as special highlighting the importance of strengthening connections between Melanesian nations.
The Timor-Leste President also shared aspects of his country’s historical journey and expressed his admiration for Prime Minister Wale’s leadership and advocacy for the region.
A key part of the discussions focused on Timor-Leste’s experience with its sovereign fund, which President Ramos-Horta described as a successful and prudent investment that has contributed to his country’s economic stability.
He explained that the sovereign fund operates without government interference and provides financing through the national budget, supporting government programmes and development priorities.
President Ramos-Horta also highlighted Timor-Leste’s current economic performance under the sovereign fund.
The President further proposed that Solomon Islands establish an embassy in Timor-Leste, offering government facilities at no cost to support the establishment of the diplomatic mission.
Prime Minister Wale welcomed the proposal and described the discussions as an opportunity to build on the growing connections between the two countries.
The Prime Minister said Timor-Leste’s sovereign fund experience was particularly relevant and welcomed the opportunity to study the model and assess its applicability to Solomon Islands.
He indicated that Solomon Islands could consider sending the Minister of Finance and a technical delegation to Timor-Leste to study the sovereign fund, its governance arrangements and how it supports the national budget.
Prime Minister Wale said the proposal was workable and welcomed President Ramos-Horta’s openness to sharing Timor-Leste’s experience with Solomon Islands.
SOURCE// OPMC PRESS RELEASE
