Subject: XIN: Indonesia, East Timor agree to set up gateway markets
Indonesia, East Timor agree to set up gateways
August 22, 2003 3:17am
Indonesia and East Timor have agreed to set up nine gateways and seven markets along the borders between the two countries.
The markets are designed to become centers of economic activities among the people of the two neighboring countries, head of the industry and trade office of Indonesia's East Nusa Tenggara province Supartantyo was quoted by state news agency Antara as saying.
Supartantyo said the decision to set up the gateways and the markets was stipulated in a memorandum of understanding (MOU) signed on June 11 by Industry and Trade Minister Rini Soewandi and East Timor's Foreign Affairs Minister Jose Ramos Horta.
The memorandum will take effect in November.
He said the Indonesian government has allocated funds for the construction of the markets at the two countries' borders in Belu and Timor Tengah Utara.
"The gateway and market facilities are expected to spur economic development in the two regions," he added.
Copyright 2003 XINHUA NEWS AGENCY.