Vietnam, Indonesia set sights on bilateral trade target of US$15 billion


VOV.VN - Vietnam and Indonesia have agreed to elevate bilateral trade turnover to US$15 billion by 2028, said President Nguyen Xuan Phuc on December 21 during a press briefing detailing the outcomes of talks held with Indonesian President Joko Widodo.

President Nguyen Xuan Phuc (L) and his Indonesian counterpart Joko Widodo
President Nguyen Xuan Phuc (L) and his Indonesian counterpart Joko Widodo

The two leaders therefore affirmed that they held hugely successful talks and agreed on many important co-operation contents as part of efforts to elevate the strategic partnership between the two countries to a higher level.

Both State leaders affirmed that the joint strategic partnership has overcome numerous challenges and is increasingly trusted, with economic co-operation becoming increasingly stronger.

President Phuc said that with bilateral trade turnover reaching US$11.6 billion in 2021, a figure which is two years ahead of schedule, year two-way trade could reach US$13 billion this year.

Both sides consented to swiftly bringing bilateral trade turnover to US$15 billion in the time ahead, with the two countries set to celebrate 10 years of a strategic partnership next year, thereby opening a new page in bilateral relations.

The two sides also agreed to strengthen the exchange of high-level visits, effectively implement co-operation mechanisms and the joint committee on bilateral ties.

Furthermore, they also concurred to implement signed co-operation agreements, outline an action plan to realise the 2024 to 2028 strategic partnership fully and comprehensively.

They will seek to promote the two countries' trade ties in a bid to ensure steady growth, reaching the target of US$15 billion and more by 2028 in order to achieve a more balanced and sustainable direction.

They consented to create favourable conditions in which businesses of the two countries can diversify investment fields and develop digital economy, digital transformation, green economy, renewable energy, tourism, services, and increase flights.

The two sides will augment co-operation in national defence, security, maritime issues, people-to-people exchanges, and connections between localities and businesses.

Indonesian President Widodo proposed that Vietnam create optimal conditions for Indonesian goods to be exported to the Vietnamese market, especially agricultural products, as well as agreeing to promote investment linkages between the two nations.

The Indonesian President went on to express great appreciation for Vietnamese trust and confidence in Indonesian businesses based in Vietnam across multiple fields. Indonesia has so far poured roughly US$600 million in 101 projects throughout the country.

He also applauded the Vietnamese Government’s commitments aimed at solving problems faced by Indonesian financiers, thereby helping intensifying new investment in the future.

The two leaders also agreed to ramp up co-operation in the field of clean energy and renewable energy, as well as signing an agreement between the two countries on co-operation in energy and minerals.

This will help promote the development of solar power, hydrogen technology, and smart grids, he said, while welcoming businesses of the two countries for effective co-operation, including in the field of electric motorcycles and electric vehicle batteries.

President Widodo also said that the two sides were of the same mind regarding augmenting tourism co-operation, striving to return to the same level as before the pandemic. The two countries will finalise their plans to open new routes between Da Nang and Java, while also increasing flights between Ho Chi Minh City and Jakarta.

On international and regional issues, President Phuc and his Indonesian counterpart agreed to bolster co-operation at regional and international forums, especially those of ASEAN and the UN, as well as sharing views on a number of regional and international issues of shared concern, including the East Sea.

Vietnam and Indonesia will work together to promote a united and self-reliant ASEAN, enhance the regional bloc's central role, and maintain ASEAN's common stance on the East Sea. This will be part of wider efforts to ensure peace, safety, security, and freedom of navigation and overflight on the basis of International Law and the UN Convention on the Law of the Sea 1982 (UNCLOS).

The two leaders also said they discussed Indonesia's priorities ahead for the ASEAN Chairmanship Year 2023.

President Phuc congratulated Indonesia on successfully completing the role of G20 Chair in 2022 and pledged to strongly support Indonesia to successfully assume the role of ASEAN Chair next year.



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