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Australia and Timor-Leste reach a landmark agreement on maritime boundaries in the Timor Sea, resolving a longstanding dispute. The agreement, facilitated by the Permanent Court of Arbitration, paves the way for joint development of oil and gas resources in the region worth an estimated $40 billion. This diplomatic breakthrough strengthens the bilateral relationship between the two nations and promotes cooperation in the exploitation of shared resources.
Friday, 1 September, 2017