Vietnam and Indonesia have agreed to target two-way trade of over $15 billion in the near future and to seek a better trade balance.
The news came from official talks between National Assembly (NA) Chairman Vuong Dinh Hue and Speaker of the Indonesian House of Representatives Puan Maharani on August 4, during the former’s official visit to Indonesia.
Delighted with the rapid and effective development of the strategic partnership in all fields, the two legislative leaders concurred on orientations to continue promoting bilateral ties and to celebrate the tenth anniversary of the Vietnam-Indonesia Strategic Partnership (2013-2023), as the 50th anniversary of diplomatic relations (1975-2025) approaches.
They agreed to target $15 billion in bilateral trade in a more balanced direction, facilitating exports and imports, reducing trade barriers, developing strategic supply chains, and making full use of both sides’ potential and strengths.
NA Chairman Hue proposed that Indonesia open its market to Vietnam’s farm produce, especially Halal food and fruit such as lychees and longans, and further assist Vietnamese enterprises doing business in the country.
The two also agreed to strengthen measures to promote trade and create favorable conditions for enterprises from both sides to diversify fields of investment and cooperation and create a legal corridor for mutual cooperation in global issues, especially “just energy transition” and safe digital transformation.
They also agreed to boost cooperation in other endeavors, including culture, education, tourism, and people-to-people exchanges, through a higher frequency of commercial flights, including expected direct flights between Hanoi and Jakarta, and to enhance cooperation at sea and in fisheries as well as work on issues related to illegal, unreported, and unregulated (IUU) fishing.
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