AGP Executive Report
Last update: 11 minutes agoASEAN Diplomacy: East Timor’s Foreign Minister Bendito dos Santos Freitas joined the 59th ASEAN Foreign Ministers’ Meeting in Manila, with US Secretary of State Marco Rubio and China’s Wang Yi among key partners, as ministers set the agenda for regional peace and cooperation through July 24. Maritime Trade & Safety: Japan will map and update high-precision nautical charts for key straits across Indonesia, the Philippines and Timor-Leste, aiming to strengthen maritime resilience and reduce shipping risk, with work funded via Japan’s ODA. Offshore Energy Survey Contract: Fugro won a contract to run deepwater site characterization surveys offshore Timor-Leste for the Greater Sunrise and Bayu Undan gas developments, using geophysical, seismic and AUV work ahead of operations later in 2026. Financial System Reform: Timor-Leste’s National Parliament approved the General Framework for the Financial System and Banking Activities, upgrading the Central Bank’s powers, creating resolution and deposit insurance funds, and tightening anti–money laundering and consumer protection rules. Labour & Agriculture Link: New Zealand’s Recognised Seasonal Employer scheme added Timor-Leste workers in 2026, expanding Pacific labour supply for horticulture as demand for seasonal work grows. Business & Compliance: A new push to strengthen financial supervision and banking rules is expected to shape how lenders and investors operate in Timor-Leste’s evolving economy.
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