Vietnamese products have gradually gained a firm footing in Indonesia and export revenue has been rising, but there is still major potential for economic, trade, and investment cooperation to improve.

Vice Director of the Ho Chi Minh City Trade and Investment Promotion Center (ITPC), Nguyen Tuan, made the statement at a trade promotion event on December 19.

“Key products such as farm produce, garments and textiles, foodstuff, home appliances, and consumer goods are yet to find favor in Indonesia,” he said, adding that the country is a sizeable market for Halal products and a promising importer of Vietnamese commodities.

Figures from the General Department of Vietnam Customs show that two-way trade reached $11.58 billion in the first ten months of this year, of which Vietnam’s exports were $3.78 billion, up 22.3 per cent year-on-year.

Export items included seafood products, coffee, chemical products, garments and textiles, leather and footwear, and steel and iron. Computers and electronic products and components are leading groups in terms of turnover.

Indonesian Consul General in Ho Chi Minh City, Agustaviano Sofjan, said Indonesian agencies always create optimal conditions for businesses from both sides, thus creating more opportunities to expand networks and seek more partnerships.

He added that he expects enterprises from both countries to expand their business and reach cooperative arrangements.

Trade cooperation is a highlight of Indonesia-Vietnam relations, he went on. Bilateral trade stood at $11 billion in 2021, surpassing the targeted $10 billion.