Vietnam and Indonesia agreed to work towards raising annual two-way trade to $15 billion before 2028 in talks between State President Nguyen Xuan Phuc and his Indonesian counterpart Joko Widodo in Jakarta on December 22, during the former's State visit to Indonesia from December 21-23 at the invitation of the latter.

Two-way trade turnover stood at $11.5 billion in 2021 and reached nearly $13 billion in the first eleven months of this year.

Both sides affirmed their determination to step up investment ties to match their potential and the strategic partnership by creating favorable conditions for enterprises to diversify their investments, including in new fields such as the digital economy and digital transformation, the green economy, and renewable energy.

President Phuc suggested that Indonesia consider easing trade barriers, provide technical support, and facilitate the importation of goods from Vietnam, including Halal-standard products.

President Widodo said that more and more Indonesian businesses are interested in investing in Vietnam, and he hopes that more Vietnamese enterprises will expand their operations in Indonesia.

In order to raise annual two-way trade turnover to $15 billion, President Widodo proposed that Vietnam create the conditions for Indonesia to export products to Vietnam, particularly agricultural products.

He said he appreciates the Vietnamese Government’s commitment to deal with issues that Indonesian investors have encountered, which has helped promote new investment in the future.

The two Presidents also agreed to promote cooperation in tourism and to instruct airlines to complete plans to open new routes between Da Nang and Java and increase flights between Ho Chi Minh City and Jakarta.

President Nguyen Xuan Phuc is paying  a state visit to Indonesia from December 21-23 at the invitation of President Joko Widodo.