Indonesia-Vietnam Agree on Bilateral Trade Target and Region

President of Indonesia (Joko Widodo) and President of Vietnam (Nguy?n Xuân Phúc)
Sumber :
  • Setkab.go.id

VIVA – The Indonesian President Joko Widodo (Jokowi) and the Vietnam President Nguyen Xuân Phúc held a bilateral meeting, at the Bogor Presidential Palace, West Java, on Thursday, December 22, 2022. In this meeting, President Joko Widodo encouraged the enhancement of strategic partnerships both bilaterally and in the region.

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While in the context of bilateral cooperation, the two countries agreed to increase cooperation in the field of trade. The President revealed that trade value of US$10 billion targeted to be achieved in 2023 has been fulfilled in 2021 with a figure of US$11.06 billion.

"In the last five years, trade has increased by 9.77 percent. For that, we agreed to set a new bilateral trade target of US$15 billion by 2028," President Joko Widodo remarked.

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In particular, President Jokowi asked President Nguyen Xuân Phúc to expedite exports of agricultural commodities from Indonesia to Vietnam, "Indonesia calls attention to the obstacles of Indonesian agricultural products and fruits to enter the Vietnamese market."

Presiden RI Joko Widodo dan Presiden Vietnam Nguyen Xuan Phuc di Istana Bogor

Photo :
  • Biro Pers, Media dan Informasi Sekretariat Presiden
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Then, the two leaders also discussed cooperation in the investment sector. The President appreciated the Vietnamese government's trust in Indonesian companies investing in the country.

It is recorded that Indonesia's accumulated investment in Vietnam reached more than US$600 million covering 101 projects. Therefore, President Jokowi emphasized the need to protect Indonesian investment in Vietnam.

"I expect the resolution of several issues experienced by Indonesian investors that will encourage new investments in the future," said President Joko Widodo.

After that, both leaders discussed efforts to strengthen cooperation in the field of clean energy and new renewable energy. The President welcomed the signing of a MoU on cooperation in energy and mineral resources (ESDM) between the two countries which he said could encourage the development of solar power plants, hydrogen power, and smart grids.

"I also welcome Vietnam's collaboration plans with state-owned enterprises and companies in Indonesia, such as PT BTM and PT Wima for marketing Gesit electric motorcycles in Vietnam, Indonesia Battery Corporation (IBC) for investment in EV (electric vehicle) battery manufacturing, and PT INKA for the purchase of electric bus components," explained the Indonesian President.

The next issue discussed was improving connectivity between the two countries. The President emphasized that both countries must immediately restore the flow of goods and tourist traffic like the pre-pandemic period.

"Direct flight routes between the business and tourism centers of the two countries must be revitalized. Airlines from both countries are expected to finalize plans for new flight routes from Da Nang to Denpasar and Ho Chí Minh-Jakarta, as well as the addition of the Jakarta-Ho Chí Minh City flight route," the President said.

Meanwhile, on regional issues, both Presidents discussed enhancing ASEAN cooperation. The President expressed his appreciation for Vietnam's support for Indonesia's chairmanship of ASEAN.

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