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The Timor-Leste–Indonesia–Australia Growth Triangle (TIA-GT) is a combined initiative of the regions of Eastern Indonesia, Northern Australia, and the Democratic Republic of Timor-Leste. This initiative aims to promote and foster economic growth through integrated economic development in the region that these nations reside in. The growth triangle was created in 2012, after a meeting was held by Indonesian president Susilo Bambang Yudhoyono with Prime Minister of Australia Julia Gillard and Timor-Leste Prime Minister Xanana Gusmao. The initiative aims to support economic, social, and cultural development primarily by attracting investment, developing manufacturing industries, enhancing human capital, and overall building a stronger cooperative relationship between the three countries involved. The initiative also aimed to accelerate the accession of Timor-Leste into the Association of Southeast Asian Nations (ASEAN) and to fulfill goals set by Timor-Leste's Strategic Development Plan, such as increasing the nation's economic prosperity and stability. The growth triangle is often misinterpreted as a free-trade zone; however, while there are elements of free trade agreements between Indonesia and Australia specifically, the terms of the growth triangle initiative are not directly linked to these free trade agreements, and the goals of the growth triangle do not specifically encompass free trade between the three nations.
References
- ↑ Pupphavesa, Wisarn (2008). BIMSTEC-Japan Comprehensive Economic Cooperation: A Step in the Future. Bookwell. ISBN 978-81-89640-53-8.
- http://www.indiantradeportal.in/vs.jsp?lang=1&id=0,1,63,69 Official Indian Trade Portal.