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The Minister of Petroleum and Mineral Resources, Francisco da Costa Monteiro, attended meetings and activities in Brussels, Belgium, from October 5^th to 9^th, 2026, as part of the Extractive Industries Transparency Initiative (EITI) Global Conference. He presented Timor-Leste’s experience in natural resource management and announced new commitments to strengthen transparency in the petroleum and mineral sectors.

The 10th EITI Global Conference, held on October 8^th and 9^th under the theme “Transparency for Shared Prosperity”, brought together representatives from governments, businesses, civil society, and international partners to discuss natural resource governance, responsible investment, revenue mobilisation, the energy transition, and energy security.

As part of the programme, Francisco Monteiro met on October 6^th, with Maria van der Hoeven, who assumed the Chairmanship of the EITI Board of Directors for the 2026–2029 term. The meeting focused on the initiative’s evolution amid transformations in the energy sector, investment requirements, and the mobilisation of financing for natural resource development projects.

The following day, the Minister spoke at the session “From Preparation to Shared Prosperity: Lessons from EITI Portuguese-Speaking Countries in Africa and Asia”, alongside representatives from Timor-Leste, Angola, Mozambique, and São Tomé and Príncipe. Francisco Monteiro presented Timor-Leste’s experience—the country has been implementing the EITI since 2008—and addressed the challenges of transparency, regulation, and public oversight associated with the development of the petroleum and mineral sectors. The Ambassador of Timor-Leste to the Kingdom of Belgium and the European Union, Maria Lurdes Bessa, accompanied the Timorese delegation during activities in Brussels.

On October 8^th, during the Global Conference’s Leadership Forum, Francisco Monteiro announced, on behalf of the Government, three commitments to strengthen transparency in the petroleum and mining sectors: to move beyond current periodic reporting towards more systematic, timely, and accessible disclosure of information; to improve disclosure on state ownership, contracts and licences, beneficial ownership, and other matters covered by the EITI Standard; and to step up public disclosure and dialogue on the management and development of natural resources.

The Minister argued that transparency must be integral to day-to-day natural resource management and that increased state involvement in strategic projects must be accompanied by appropriate mechanisms for governance, accountability, and public oversight.

National participation concluded on October 9^th with a presentation by Francisco Monteiro at the session “Energy Security in South-East Asia: Strengthening Resilience in an Era of Geopolitical Uncertainty”. The Minister outlined the national experience in natural resource management, including the governance model of the Petroleum Fund, and addressed challenges arising from the growth of the mining sector and the development of strategic petroleum projects.

In this context, he noted progress in the Greater Sunrise negotiations among Timor-Leste, Australia, and the project consortium, including a technical-level agreement on the Petroleum Mining Code, the Production Sharing Contract, and the Fiscal Regime, which are now undergoing their respective internal approval processes.

In the context of Timor-Leste’s accession to ASEAN, the Minister also highlighted that responsible development of national resources could contribute to regional energy security, alongside strengthening institutions and transparency and accountability mechanisms.

 

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On October 13^th, 2026, in Bangkok, Thailand, the Vice-Minister of Foreign Affairs and Cooperation, Jesuína Maria Ferreira Gomes, attended the inaugural Xingu Finance Talks, a high-level roundtable focused on solutions to improve climate-action financing.

The COP30 Presidency organised the initiative as part of the Veredas Dialogue, convening government representatives, international financial institutions, the private sector, and the academic community at the Queen Sirikit National Convention Centre.

The Xingu Finance Talks were established by a decision of the seventh session of the Conference of the Parties serving as the meeting of the Parties to the Paris Agreement (CMA 7), held in Belém, Brazil, in November 2025, as an annual high-level platform to promote the exchange of perspectives and to identify practical solutions to the challenges and opportunities associated with implementing Article 2(1)(c) of the Paris Agreement and with its complementarity with Article 9.

These provisions address, respectively, the need to align financial flows with a pathway towards low greenhouse-gas emissions and climate-resilient development, and the provision of climate finance for developing countries.

In this first edition, discussions centred on two priority areas: expanding fiscal space for climate action investments and reducing the cost of capital through risk-sharing mechanisms and guarantees.

Speaking on behalf of the Least Developed Countries (LDC) Group, Vice-Minister Jesuína Maria Ferreira Gomes set out these countries’ priorities and emphasised that climate finance must help protect populations, strengthen resilience, and support sustainable development.

The Vice-Minister argued that financing mechanisms should reduce vulnerabilities rather than exacerbate them, create opportunities without increasing debt burdens, and deliver tangible results for the populations and communities most affected by climate change.

Jesuína Maria Ferreira Gomes also emphasised the need to ensure that climate finance is accessible, affordable, and responsive to the specific circumstances of the most vulnerable countries, particularly the Least Developed Countries, so they can build adaptive capacity and pursue climate-resilient development models.

On October 11^th, a technical workshop preceded the high-level roundtable and focused on identifying practical solutions in the two priority areas. The outcomes of the Xingu Finance Talks are expected to inform the Veredas Dialogue’s work on implementing the Paris Agreement’s financial provisions.

The position presented at the Xingu Finance Talks aligns with Timor-Leste’s position in other international forums on climate change and sustainable development. On October 13^th, at the Second Committee of the 81st Session of the United Nations General Assembly in New York, Timor-Leste also advocated strengthening climate finance, technology transfer, and national capacities, as well as international support tailored to the circumstances of the most vulnerable countries.