Timor Leste Agreement
International investment agreements (IIAs) are divided into two types: (1) bilateral investment agreements and (2) investment agreements. A bilateral investment agreement (BIT) is an agreement between two countries on the promotion and protection of investments made by investors of the countries concerned in the territory of the other country. The vast majority of AIIs are BITs. The category of contracts with investment rules (TIPs) includes different types of investment agreements that are not NTBs. Three main types of PNT can be distinguished: 1. global economic contracts, which contain obligations usually found in THE ILO (e.g. B a free trade agreement with an investment chapter); (2) contracts with limited investment provisions (e.g. B only those relating to the creation of investments or the free transfer of investment funds); and 3. Contracts that contain only „framework clauses“, such as. B cooperation on investments and/or mandates for future investment negotiations. In addition to AIIs, there is also an open category of investment-related instruments (IRIs). It includes several binding and non-binding instruments, such as model agreements and drafts, multilateral conventions on dispute settlement and arbitration rules, documents adopted by international organizations and others. Essentially, the distribution of revenues depends on Timor-Leste entering into a pipeline agreement.
However, this is not just a bilateral dispute – this is the commercial consortium led by Woodside, which has the rights of the licensees under the 2003 Greater Sunrise Unification Agreement. Indeed, Timor-Leste`s victory on the border did not give it control of its share in Greater Sunrise, as the land remains the subject of a joint development agreement. Timorese independence hero and the country`s chief negotiator for the treaty, Xanana Gusmao, said his country was losing $5 million a month while the agreement would not be ratified. This measure consolidates a pioneering agreement reached in March 2018. The eastern lateral boundary of the final agreement features an unusual Dogleg turn that does not appear to be in line with the Convention`s principles of equidisquance. This reflects a practical decision by Timor-Leste and Australia to draw a border that does not require Involving Indonesia in the negotiations and possibly granting it a share of Greater Sunrise`s resources. . .