Vietnam, Indonesia set sights on bilateral trade target of US$15 billion
Vietnam and Indonesia have agreed to elevate bilateral trade turnover to US$15 billion by 2028, said President Nguyen Xuan Phuc at a press briefing detailing the outcomes of his talks with Indonesian President Joko Widodo on December 22.
The two leaders affirmed that they had very successful talks and agreed on many important cooperation contents in a bid to elevate the strategic partnership between the two countries to a higher level.
Both State leaders affirmed that the Vietnam-Indonesia strategic partnership has overcome numerous challenges and is increasingly trusted, and economic cooperation is becoming stronger.
State President Nguyen Xuan Phuc said that with bilateral trade turnover reaching US$ 11.6 billion in 2021, fulfilling 2 years ahead of schedule early, and this year two-way trade could reach US$13 billion.
Both sides consented to soon bring bilateral trade turnover to US$15 billion in the time ahead. The two countries will celebrate 10 years of strategic partnership next year, opening a new page in bilateral cooperation.
The two sides agreed to strengthen the exchange of high-level visits, effectively implement cooperation mechanisms and the joint committee on bilateral cooperation.
Besides, they also concurred to implement signed cooperation agreements, outline an action plan to realize the 2024-2028 strategic partnership fully and comprehensively.
They will promote the two countries' trade cooperation to ensure steady growth aimed at, reaching the target of US$15 billion and a higher level by 2028 towards a more balanced and sustainable direction.
They consented to create favorable conditions for businesses of the two countries to diversify investment fields and develop digital economy, digital transformation, green economy, renewable energy, tourism, services and increase flights.
The two sides augment cooperation in national defence, security and maritime issues people-to-people exchange, connections between localities and businesses.
Indonesian President Joko Widodo proposed that Vietnam create optimal conditions for Indonesian goods to be exported to Vietnam, especially agricultural products, agreed to promote investment cooperation between the two nations.
Indonesian President Joko Widodo highly appreciated Vietnam's trust and confidence in Indonesian businesses in Vietnam in multiple fields. Indonesia has so far poured nearly US$600 million in 101 projects in Vietnam.
He also applauded the Vietnamese Government’s commitment to solve some problems faced by Indonesian investors, thereby helping intensify new investment in the future.
The two leaders also agreed to ramp up cooperation in the field of clean energy and renewable energy, and sign a cooperation agreement between the two countries on cooperation in energy and minerals.
This will help promote the development of solar power, hydrogen technology and smart grid, he said while welcoming businesses of the two countries for effective cooperation, including in the field of electric motorcycles, electric vehicle batteries.
President Joko Widodo also said that the two sides were on the same mind on augmenting tourism cooperation, striving to return to the level as before the pandemic. The two countries will finalize plans to open new routes between Da Nang and Java, while increasing flights between Ho Chi Minh City and Jakarta.
On international and regional issues, President Nguyen Xuan Phuc and his Indonesian counterpart agreed to bolster cooperation at regional and international forums, especially those of ASEAN and the United Nations, and shared views on a number of regional and international issues of shared concern, including the East Sea.
Vietnam and Indonesia will work together to promote a united and self-reliant ASEAN, enhance the regional bloc's central role, maintain ASEAN's common stance on the East Sea, and ensure peace, safety, security and freedom of navigation and overflight on the basis of International Law and the UN Convention on the Law of the Sea 1982 (UNCLOS.)
The two leaders also said they discussed Indonesia's priorities in the ASEAN Chairmanship Year 2023.
President Phuc congratulated Indonesia on successfully completing the role of G20 Chair in 2022 and pledged to strongly support Indonesia to successfully assume the role of ASEAN Chair next year.
