
Press ReleaseNo. 291 /HMS/X/02 First Joint Ministerial Commission
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The Joint Commission discussed ways of addressing the residual problems between both countries, as well as boosting bilateral relations through new areas of cooperation on the basis of reconciliation, mutual respect and a forward-looking stance. Towards that end, it established five working groups on borders issues; trade and finance; legal matters; social, educational and cultural affairs; and transport and telecommunications. Both sides agreed to promote an umbrella agreement on these matters towards improving economic and trade relations. The two countries agreed to seek comprehensive solutions in further strengthening cooperation on residual legal matters such as assets owned by Indonesians (private individual, corporate and government) and the question of nationality. In addition, they agreed in principle to find innovative settlements on corporate assets through conversion of those assets for Indonesian investment, including joint venture. They further agreed to hold a technical working group on this matter within the 6 months prior to the second Joint Commission meeting. The Joint Commission for Bilateral Cooperation is based on a Memorandum of Understanding signed by both parties on July 2, 2002 in Jakarta with the objective of facilitating consultation and cooperation between the two countries in all areas as a reflection of their common interest in strengthening friendly relations and mutual cooperation on a lasting basis. It was agreed that the second meeting of the Joint Commission would be held in Dili in 2003. New York, 9 October 2002
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