Vietnam seeks stronger trade ties with Indonesia

Vietnamese and Indonesian enterprises specialising in various fields like food, beverages and renewable energy gathered at a business matchmaking seminar in Jakarta on June 21.
Vietnam seeks stronger trade ties with Indonesia
Vietnamese Ambassador to Indonesia Ta Van Thong speaks at the event. (Photo: VNA)

The event was jointly held by the Vietnamese Ministry of Industry and Trade (MoIT), the Vietnamese Embassy in Indonesia, and the Jakarta Chamber of Commerce and Industry (Kadin Jakarta).

In his opening remarks, Vietnamese Ambassador to Indonesia Ta Van Thong affirmed that the two countries boast great potential for cooperation in business and investment.

Last year, two-way trade reached 14.17 billion USD, he said, adding that Indonesia’s investment in Vietnam was valued at about 620 million USD, and that from Vietnam stood at 50 million USD.

However, the diplomat pointed out that the figures remain a far cry from the potential as well as other optimal conditions brought about by bilateral legal documents which have been almost done, close geographical distance, the ASEAN Trade in Goods Agreement (ATIGA) and free trade agreements between ASEAN and partners, along with direct flights between the two countries.

Thong expressed his hope that more partnerships will be set up by the two countries’ enterprises, and more Indonesian firms will invest in Vietnam.

Tran Quang Huy, Director of the MoIT’s Asia-Africa Market Department, noted that Indonesia is now Vietnam’s third biggest trade partner in ASEAN, and Vietnam is Indonesia’s fourth largest in the region.

Vietnam exports rice, coffee, rubber, aquatic products, garments-textiles, phones and spare parts, steel, construction materials and plastic products to Indonesia, while importing coal, auto spare parts, palm oi and animal feed from the country.

Kadin Jakarta Chairwoman Diana Dewi said the seminar offers an opportunity for Indonesian and Vietnamese businesses to promote cooperation and expand operations in the respective markets.

On the sidelines of the seminar, there were meetings and working sessions between producers, exporters and importers in different areas.

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(Source: VNA)