Recently, East Timor (Timor Leste), also known as Asia’s newest democracy, concluded the second and final round of presidential elections.
Today Current Affairs
Key points about East Timor:
History:
The region was colonized by Portugal in the 18th century and remained under Portuguese control until 1975.
When the Portuguese withdrew from the region, it was invaded by Indonesia and established East Timor as its 27th province.
There was a long and bloody struggle for the independence of East Timor, in which at least 100,000 people died.
In 1999, East Timorese voted for independence in a UN-supervised referendum, but this encouraged violent activities until peacekeeping forces were allowed to enter the region.
The country was officially recognized by the United Nations in the year 2002.
East Timor has also applied to become a member of the Association of Southeast Asian Nations (ASEAN).
At present it has observer status.
Geographical situation : The Hindu Analysis
East Timor is bordered by the Timor Sea to the southeast, the Wetar Strait to the north, the Ombai Strait to the northwest, and West Timor (part of the Indonesian province of East Nusa Tenggara) to the southwest.
East Timor includes the eastern part of the island of Timor, the western half of which is part of Indonesia.
It covers a land area of 15,000 square km, slightly smaller than Israel and its 1.3 million people are predominantly Roman Catholic.
About economy and political system:
Politics : The Hindu Analysis
In the nearly 20 years since independence, East Timor’s presidential and parliamentary elections have been dominated by many people alike.
In its political system, the President also shares some executive powers and appoints the government and has the power to veto ministers or dissolve Parliament.
Economy : The Hindu Analysis
The country depends on the revenue from its offshore oil and gas reserves which account for 90% of its Gross Domestic Product (GDP).
It has an agreement with Australia for the Greater Sunrise Gas Field, which is estimated to be valued at US$65 billion.
The Bayu Undan gas field, its main revenue field, is on the verge of drying up by the year 2023 and the country is now planning to collaborate with companies in Australia to convert it into carbon capture facilities.
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