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Article: EAST TIMOR-AUSTRALIA: SEA PACT BOOSTS DILI'S ECONOMIC STRENGTH
- Article from:
- Inter Press Service English News Wire
- Article date:
- July 5, 2001
- Author:
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Bob Burton
Inter Press Service English News Wire
07-05-2001
CANBERRA, Jul. 5 (IPS) -- The signing of an agreement today
that guarantees East Timor a greater share of income from oil
development in the sea between its territory and Australia
dramatically increases prospects of economic independence for the
fledgling nation.
Following bruising negotiations, the Australian government
relented from its initial insistence that the revenues from the
75,000-square kilometer zone between Australia and East Timor,
known as the Timor Gap, be divided evenly.
The Timor Sea Arrangement was finalized late last week in
Canberra by East Timorese Cabinet members Jose Ramos-Horta and
Mari Alkatiri and United ...