Cannot open port

I've been struggling to open the port 5432 for remote PostgreSQL access. Which I installed on a Ubuntu 10.04 desktop machine.
Here is the shell log:
xybrek@ubuntu:~$ sudo ufw allow 5432
[sudo] password for xybrek:
Skipping adding existing rule
xybrek@ubuntu:~$ sudo ufw allow 5432/tcp
Skipping adding existing rule
xybrek@ubuntu:~$ sudo ufw status
Status: active

To                         Action      From
--                         ------      ----
5432/tcp                   ALLOW       Anywhere
5433/tcp                   ALLOW       Anywhere
5432                       ALLOW       Anywhere

5432/tcp                   ALLOW OUT   Anywhere

xybrek@ubuntu:~$ sudo nmap localhost -p5432

Starting Nmap 5.00 ( http://nmap.org ) at 2013-05-28 17:57 PHT
Warning: Hostname localhost resolves to 2 IPs. Using 127.0.0.1.
Interesting ports on localhost (127.0.0.1):
PORT     STATE  SERVICE
5432/tcp closed postgresql

Nmap done: 1 IP address (1 host up) scanned in 0.12 seconds
When I try to connect to the port from another machine its just connection timeout, whereas when I try to connect to other port like 80, 8080 it works. What am I missing?