Indonesia, Australia, Timor Leste eager to close economic ties

Leaders of Indonesia, Australia and Timor Leste agreed on Friday to further develop economic ties by boosting trade and investment, Antara news agency reported. Indonesian President Susilo Bambang Yudhoyono, Timor Lester Prime Minister Xanana Gusmao and Australian premier Julia Gillard also agreed to intensify people-to-people communication. "There will be a further technical discussion in Dili, Timor Leste in March or April next year regarding these aims," Gillard said after a trilateral meeting of leaders of the three neighboring countries on the sidelines of the fifth Bali Democracy Forum in Nusa Dua, Bali. Leaders of the three countries have learned that the future of their economy is closely related with the economic development in Asia which exerts significant influence on global supply chain, Gillard said. "A single country cannot independently fulfill its own needs. It needs products from other countries. That is the crucial point for Australia, Indonesia and Timor Leste," she said.