Indonesia Eyes Rp131.5tn Worth of Trade with Vietnam

• Aug 23, 2017

TEMPO.CO, Jakarta – Trade Minister Enggartiasto Lukita said that Indonesia is aiming at boosting the value of its trade with Vietnam. The government has set a target to achieve US$10 billion worth of trade with Vietnam.

“The President wants to reach US$10 billion [worth of trade with Vietnam],” Enggartiasto said at the Presidential Palace in Jakarta today, August 23.

According to Enggartiasto, Indonesia has several signature commodities to be exported to Vietnam. Among them are palm oil and cars. Vietnam has also expressed its commitment to importing coal and gas from Indonesia.

Today, Vietnam Republic Socialist Party secretary general Nguyen Phu Trong visited Indonesian President Joko Widodo or Jokowi to strengthen ties in various fields, including energy, education, rural areas, and law. Currently, Indonesia’s trade value to Vietnam has reached US$6 billion.

Villages, Disadvantaged Regions, and Transmigration Minister Eko Putro Sandojo said that Vietnam had expressed its interest in the village fund scheme implemented by Indonesia. Also, the Vietnamese government is interested in the village-owned business idea.

“Indonesia can learn about the modern agriculture from Vietnam,” Eko said.

Foreign Minister Retno Marsudi views that Indonesia and Vietnam have been involved in cooperation for a long time. Regarding the economy, both countries are relatively successful. Vietnam managed to book an economic growth of 6 percent, while Indonesia recorded 5 percent.

“Amid global economic slowdown, trade activities between Indonesia and Vietnam show an increasing trend,” Retno said.

Source: https://en.tempo.co/read/news/2017/08/23/056902598/Indonesia-Eyes-Rp1315tn-Worth-of-Trade-with-Vietnam