Vietnam, Indonesia aim to boost trade to $18bn
Vietnam, Indonesia aim to boost trade to $18bn
Vietnamese and Indonesian top leaders have agreed to raise two-way trade to US$18 billion by 2028 while expanding cooperation in all fields to further bring into play the strategic partnership between the two countries.
Vietnamese Party General Secretary and State President To Lam shakes hands with Indonesian President-elect Prabowo Subianto at their talks in Hanoi on September 13, 2024. Photo: Vietnam News Agency |
The agreement was reached on Friday between Vietnamese Party General Secretary and State President To Lam and Indonesian President-elect Prabowo Subianto, who arrived in Hanoi on the same day for a two-day working visit.
Highly appreciating Subianto’s visit, Lam congratulated Indonesia on its 79th National Day (August 17) and praised the country’s recent achievements in socio-economic development as well as its contributions to peace and cooperation in the region and the world.
President-elect Prabowo Subianto thanked the warm welcome and congratulated Vietnam on its significant accomplishments in economic development and enhancing its position in the international arena.
He also shared his deep sympathy for the great losses and damages caused by Typhoon Yagi in Vietnam.
Subianto affirmed that Indonesia always attaches importance to the traditional friendship and cooperation with Vietnam – the only strategic partner of Indonesia in ASEAN, and wished to take stronger measures to deepen and substantiate the relationship.
Currently, Indonesia is Vietnam's third largest trade partner and Vietnam is Indonesia's fourth largest trade partner in ASEAN, with trade between the two countries increasing by nearly four times over the past 10 years.
The two leaders affirmed their determination to bring two-way trade to $18 billion by 2028 through trade promotion activities, support for trade between businesses of both countries, and remove barriers to the bilateral trade.
Lam and Subianto agreed to continue to encourage and facilitate both countries' businesses to invest in each other's markets, especially in new areas including digital economy, green economy, energy transition, and electric vehicle ecosystem development.
Lam affirmed that Vietnam is ready to join hands with Indonesia to ensure food security and called on Indonesia to facilitate Vietnam's farm produce and Halal products to further penetrate the Indonesian market.
They discussed a number of directions to boost cooperation in other fields besides trade to bring the bilateral relationship to a new height.
Both sides expressed pleasure that the Vietnam - Indonesia strategic partnership has been relentlessly developed in recent times through exchanges of delegations and high-level contacts, including the state visit of President Joko Widodo to Vietnam in January this year.
Cooperation in security and defense, maritime, culture, tourism, and transportation, have been effectively promoted, while people-to-people exchange and local connections have been strengthened, the host and guest commented.
The two sides agreed to continue strengthening cooperation in defense and security and coordination in preventing transnational crimes and illegal, unreported and unregulated (IUU) fishing.
Regarding regional and international issues of mutual concern, the two sides agreed to continue to coordinate and support each other at regional and international forums and organizations, including ASEAN, the United Nations, and the Non-Aligned Movement.
The two leaders reaffirmed the importance of peace, stability, safety, security, and freedom of navigation and aviation in the East Vietnam Sea; maintain ASEAN's solidarity and common stance on the East Vietnam Sea issue; and promote substantive and effective negotiations on a Code of Conduct in the waters in line with international law, especially the 1982 United Nations Convention on the Law of the Sea (UNCLOS).
Lam asked Indonesia to support and send high-level representatives to the ASEAN Future Forum 2025 and the ASEAN Future Forum 2025 and the Partnering for Green Growth and the Global Goals 2030 (P4G) Summit to be held in Vietnam.
