State President Vo Van Thuong and Indonesian President Joko Widodo agreed to strive to increase annual bilateral trade turnover to $15 billion or higher during talks in Hanoi on January 12 during the latter’s three-day visit to Vietnam from January 11-13.

To fulfill the target, the two sides will address trade barriers and create favorable conditions for the import and export of key products, including rice.

Indonesia is Vietnam’s third-largest trade partner within ASEAN, while Vietnam is Indonesia’s fourth-largest trade partner.

Two-way trade turnover has continued to increase steadily despite Covid-19, from $9 billion in 2019 to $14 billion in 2023.

Discussing cooperative orientations in the future, the two sides agreed to enhance political trust, effectively implement bilateral cooperation mechanisms, and soon build an action program for the 2024-2028 period.

They agreed to lift the strategic partnership between the two countries to new heights.

The two Presidents also agreed to boost cooperation in various fields, including agriculture and fisheries, information and communications, education and training, tourism, smart finance, energy transition, digital transformation, and innovation.

President Thuong proposed that Indonesia create conditions for Vietnamese farm produce and Halal products to gain access to the market and encourage Indonesian businesses to expand their investment in Vietnam.

President Widodo said more businesses from Indonesia are interested in investing in Vietnam.