Vietnam, Indonesia aim for breakthroughs in economic ties

Prime Minister Nguyen Xuan Phuc and Indonesian President Joko Widodo have stressed the need to create breakthroughs in bilateral economic cooperation, making it the main pillar of the strategic partnership between Vietnam and Indonesia. 
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During their talks in Bali, Indonesia, on October 12, the leaders exchanged views on orientations to deepen the bilateral ties and elevate cooperation between the two countries to a new high, bringing tangible benefits to their people.

vietnam indonesia aim for breakthroughs in economic ties
At the talks.

They agreed to lift bilateral trade to 10 billion USD by facilitating market access for each other’s goods, reducing technical barriers, simplifying customs procedures and closely cooperating in product origin inspection and quarantine. 

Apart from further facilitating the operation of businesses, the two sides will create dialogue mechanisms between businesses as well as between businesses and governments to swiftly settle bottlenecks hindering investigation and business activities. 

The leaders consented to review the 1990 agreement on economic, commercial and technical cooperation and consider making the Joint Trade and Economic Commission the leading mechanism in promoting bilateral economic ties. 

The leaders concurred to expand collaboration to such new areas as digital technology, new technology, intellectual property, clean energy, smart city, information-technology, smart agriculture, logistics and startup ecosystem, aiming to utilise opportunities generated by the Fourth Industrial Revolution. 

The two leaders stressed the need to further strengthen maritime cooperation, and agreed to assign the two countries’ competent agencies to study the establishment of a marine cooperation mechanism to discuss related cooperation, especially in fishing, seafood processing, and building a favourable framework for their fishermen’s operation in a safe, sustainable and legal manner.

PM Phuc thanked the Indonesian Government for the return of 177 Vietnamese fishermen arrested and detained in Indonesia, proposing both sides regularly exchange information and handle the issue of arrested fishermen and fishing vessels in a humanitarian spirit and in accordance with the good relations between two countries. 

The two sides agreed to accelerate the establishment of a hotline on fishing and sea-related issues, while actively coordinating to implement the joint communiqué on voluntarily international cooperation against illegal, unreported and unregulated (IUU) fishing signed last month. 

The two leaders welcomed the progress in the demarcation of the exclusive economic zones (EEZ) between the two countries after 11 rounds of negotiations, and consented to work harder for a solution suitable for both sides and in line with international law.

They acknowledged new steps forwards in cooperation in agriculture, education-training, connectivity, and agreed the need to further expand collaboration in potential areas such as training labourers to meet demands of the digital economy, strengthening tourism cooperation, and studying the opening of direct air services connecting major and tourist cities of the two countries.

They shared their visions on and committed to increasing cooperation and coordination at international forums, especially within the frameworks of ASEAN, APEC, and the United Nations. 

They affirmed to closely cooperate and work together with other ASEAN member states to build an ASEAN Community of unity, self-reliance and inclusive development, promote the bloc’s central role in the region, and actively participate in the process of shaping regional cooperation initiatives.

President Widodo committed to supporting Vietnam when it undertakes the ASEAN Chairmanship in 2020.

The two sides also affirmed the importance of maintaining peace and stability in the region, freedom of navigation and aviation in the East Sea, while closely coordinating with each other as well as other relevant sides to ensure the fully and effectively implementation of the Declaration of the Conduct of Parties in the East Sea and early conclusion of an effective, substantial and legal binding Code of Conduct in the East Sea.

After the talks, Prime Minister Nguyen Xuan Phuc and President Widodo held a joint international press conference, announcing their talks’ outcomes.

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(Source: VNA)