Spotlight on economy as Timor-Leste’s Asean dream becomes reality

Asia’s youngest nation Timor-Leste is set to achieve a decades-long dream when it becomes the 11th member of Asean this weekend, which analysts say is a win politically, although the economic benefits remain to be seen.

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Timor-Leste, Southeast Asia’s poorest nation with 1.4 million people and slightly bigger than Qatar, applied to join the 10-member Asean in 2011 and was granted observer status in 2022.

The nation gained independence in 2002 from neighbouring Indonesia, following a 1999 referendum overseen by the United Nations, and shares a border with the Indonesian province of East Nusa Tenggara.

Two of its independence heroes now lead the country: President Jose Ramos-Horta, who won the Nobel Peace Prize in 1996 for his efforts, and Prime Minister Xanana Gusmao.

Decades after Mr Ramos-Horta raised the idea of joining Asean in the 1970s when Timor-Leste was still a colony of Portugal, the country will be formalised as a member at the Oct 26 to 28 Asean leaders summit, which Malaysia chairs.