China and East Timor finalize bilateral accords

China and East Timor inked a wide range of cooperation accords worth USD1.39 billion to culminate the visit of Chinese deputy foreign minister Wu Dawei. The agreements include ventures in economic and technical cooperation, the establishment of an armed forces headquarters and housing for soldiers, and provisions for East Timor’s foreign ministry. “Another form of support is that China is opening up, allowing us to send our exports exempt of tax. Therefore we will try to produce whatever we can export to China, so that we can develop our country further,” said East Timorese prime minister Xanana Gusmao.

Source: China Gives USD1.39 Billion In Aid To East Timor (AFP)