|East Timor to negotiate loan from China for infrastructures |
[ 2009-10-15 ]
Dili, East Timor, 15 Oct – East Timor’s Foreign Affairs Minister, Zacarias da Costa, has said that east Timor is negotiating a loan from China to fund the country’s large infrastructure projects.
The minister also told Portuguese news agency Lusa that the issue would be discussed Friday during a meeting between Prime Minister Xanana Gusmão and his Chinese counterpart Wen Jiabao in the Chinese city of Chengdu.
During the official visit by Gusmão to China, East Timor plans to boost bilateral cooperation.
Minister da Costa also told Lusa that “China’s interest in access Timorese oil resources,” would also be discussed.
China’s interest in Timor’s fossil fuels, according to da Costa, reinforces the conclusion that construction of a pipeline from the offshore “Sunrise” oil field to East Timor and not to Australia is commercially viable.
“We have feasibility studies from several companies that prove it is technically viable,” da Costa said.
“We have been in contact not only with China, but also with Korea and international companies that clearly show that, from a commercial point of view, it is viable to bring the pipeline to East Timor and that is what we have to show to the Australians and the companies that are in the area,” he noted.
According to da Costa, “there is interest and all the options have to be considered and laid out on the table for discussion," noting that, according to the joint Timor Sea oil exploration treaty, signed by Australia and East Timor, the two governments have the final say on the pipeline.