Vietnam, Indonesia to push for rice trade agreement
In a key step toward deepening their strategic partnership, Vietnam and Indonesia agreed to fast-track a rice trade deal to ensure stable exports and boost Indonesia’s food security.
THE HANOI TIMES — Vietnamese Prime Minister Pham Minh Chinh and Indonesian President Prabowo Subianto on July 7 agreed to accelerate the signing of a bilateral rice trade agreement.
The agreement aims to ensure stable, long-term rice exports from Vietnam and contribute to Indonesia’s food security. The two leaders discussed details at a meeting on the sidelines of the 17th BRICS Summit in Rio de Janeiro, Brazil.
Vietnamese Prime Minister Pham Minh Chinh (L) meets Indonesian President Prabowo Subitano on July 7. Photo: Nhat Bac/VGP
Prime Minister Chinh said that Vietnam’s Ministry of Industry and Trade will coordinate immediately with its Indonesian counterpart to expand market access and remove barriers for bilateral trade.
He also emphasized the importance of the two countries developing an action plan to achieve their Comprehensive Strategic Partnership goals for 2025-2030 and strengthening their economic relations.
The key focus areas should be trade, investment, agriculture, the digital economy, the green transition, and energy.
Both the Vietnamese and Indonesian leaders agreed to increase high-level meetings and delegate exchanges and further implement bilateral cooperation mechanisms.
They also agreed to collaborate with other ASEAN nations to promote multilateralism, international cooperation, peace, and security in the East Sea (the South China Sea).
According to the Ministry of Agriculture and Environment, Vietnam exported a record volume of nearly nine million tons of rice worth US$5.7 billion last year, making it the world’s third-largest rice exporter.
In 2024, Vietnam exported 1.13 million tons of rice to Indonesia, worth $679 million, up 6.2% in volume and 10.4% in value, making Indonesia Vietnam’s second-largest rice export market.
