​Vietnam, Indonesia to strive for $10bn bilateral trade

Vietnamese and Indonesian presidents discussed ways to further develop the two nations’ strategic partnership

Vietnamese State President Tran Dai Quang (L) and his Indonesian counterpart Joko Widodo in Hanoi on September 11, 2018. Photo: Tuoi Tre

The presidents of Vietnam and Indonesia have agreed on multiple measures to boost the two countries’ ties and raise bilateral trade turnover to US$10 billion in the near future.

Vietnamese State President Tran Dai Quang held talks with his Indonesian counterpart Joko Widodo in Hanoi on Tuesday, as part of the latter’s official visit to Vietnam on September 11 and 12.

The two heads of state exchanged ideas on all aspects of the relations between the two countries and agreed to further develop the strategic partnership in a more vigorous and profound way, for the interests of each country and for the sake of peace, prosperity, cooperation and development in the region.

Both sides consented on facilitating each other’s key exports, striving to bring the revenue of the bilateral trade of goods to $10 billion or even higher by 2020.

President Quang proposed that regulations on localization rates be removed for Vietnam’s key export items such as mobile phones, television sets, agro-forestry-fisheries, steel, construction materials and electrical equipment, making it easier for the products to enter the Indonesian market. 

The two leaders praised the outcomes of national defense and security collaboration over the past years, agreeing to further enhance cooperation between their naval and air forces, and partnership in defense and crime prevention. 

Negotiations on demarcation of the two countries’ exclusive economic zones will be expedited, in line with international law, especially the 1982 United Nations Convention on the Law of the Sea (UNCLOS), the presidents said.

They affirmed that the arrest of fishermen and their fishing boats for violating regulations must be handled in a humanitarian manner and in accordance with the two countries’ friendship and international law. 

They also welcomed joint work to address illegal, unreported and unregulated (IUU) fishing.

Both sides committed to effectively carry out the agreement in farm produce and consider establishing joint ventures in aquaculture, wood processing and furniture export.

Regarding tourism cooperation, focuses will be directed on sea and island tours and the launching of Hanoi – Jakarta direct flights. 

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