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Trade - Service
Aug 20, 2016 / 16:10

Promoting Vietnam - Indonesia trade and investment cooperation

Thu Minh

The Vietnam – Indonesia Friendship Association in collaboration with the Indonesian Embassy in Vietnam held a workshop on economic and trade cooperation potential between Vietnam and Indonesia in Hanoi on August 19.

A workshop aims to highlight economic and trade cooperation potential between Vietnam and Indonesia, one of the top priorities of their strategic partnership.
Speaking at the seminar, Chairman of the Vietnam – Indonesia Friendship Association Nguyen Dang Tien noted that two-way trade had topped 5.4 billion USD in 2015 and is expected to reach 10 billion USD in 2018.
Chairman of the Vietnam – Indonesia Friendship Association Nguyen Dang Tien speaks at the seminar.
Chairman of the Vietnam – Indonesia Friendship Association Nguyen Dang Tien speaks at the seminar.
The establishment of the ASEAN Economic Community at the end of 2015 will enable the nations' businesses to take full of advantages from investment opportunities to fulfill the bilateral trade target, he said.
Indonesian Ambassador to Vietnam Ibnu Hadi believed that as ASEAN member states, Vietnam and Indonesia share a lot of similarities such as income and strong economic growth.
The two countries are looking towards industrialisation in agriculture, fisheries and mining, the diplomat added.
Indonesian Ambassador to Vietnam Ibnu Hadi makes a speech at the event.
Indonesian Ambassador to Vietnam Ibnu Hadi makes a speech at the event.
The two nations also have a young population, efficient labour forces and improved infrastructure, Ambassador Hadi said, adding that the two governments define each other as key partners and hope to increase bilateral relations to a new height.
Indonesia mainly imports mobile phones and rice from Vietnam, while exporting various products like paper, automobile spare parts and motorbikes to the Vietnamese market.
Fifty-four Indonesian enterprises are operating in Vietnam.
Currently, Indonesia is the fourth most populous country in the world with over 250 million, while Vietnam ranks 14th globally with over 90 million.

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