Striving for Vietnam's trade turnover

Prime Minister Pham Minh Chinh affirmed that this visit by Indonesian President Joko Widodo has special significance, helping to create new momentum for the relationship between the two countries after more than 10 years of establishing a strategic partnership and towards the 70th anniversary of diplomatic relations (1955 - 2025).

Phấn đấu kim ngạch thương mại Việt Nam - Indonesia đạt 18 tỉ USD trước năm 2028- Ảnh 1. — Prime Minister Pham Minh Chinh welcomes Indonesian President Joko Widodo

Affirming that Vietnam is a strategically important partner of Indonesia in the region, the Indonesian President highly appreciated the important and substantive results of the exchanges and contacts with senior Vietnamese leaders and Prime Minister Pham Minh Chinh.

Economic and trade cooperation is a bright spot. In the first 11 months of 2023, foreign investment from Indonesia to Vietnam increased by 37%, with a total newly registered capital of more than 1 billion USD. In the context of difficult global trade, Indonesia still maintains its position as Vietnam's third largest trading partner and Vietnam is Indonesia's fourth largest trading partner in ASEAN, with a total trade turnover in the first 11 months of 2023 reaching nearly 13 billion USD.

Based on the achievements and to create new momentum for bilateral relations, the two sides agreed to consider soon bringing the strategic partnership to a new height. The two sides also agreed to continue to increase delegation exchanges and contacts at all levels; effectively implement bilateral cooperation mechanisms, high-level agreements, and signed documents; and promptly develop an Action Program for the 2024-2028 period in line with the new situation.

The two sides agreed to strive to soon increase bilateral trade turnover to 15 billion USD and higher at 18 billion USD before 2028; facilitate and encourage businesses of the two countries to invest in each other's markets; expand cooperation to new and important fields such as artificial intelligence, digital economy, green economy, renewable energy, investment in developing electric vehicle ecosystems and electric vehicle batteries; expand cooperation programs within the framework of the Just Energy Transition Partnership (JTEP); strengthen cooperation in the field of Halal; strengthen cooperation in food security, and research to promote the signing of a rice trade agreement.

The two sides also affirmed to strengthen cooperation in other important areas such as defense, security, maritime cooperation; coordinate to resolve common security challenges at sea; cooperate in fisheries and aquaculture; promote cooperation in education, training, tourism, etc.

Continue to coordinate and support each other at multilateral organizations; strengthen cooperation, consolidate solidarity, central role and common views of ASEAN on regional security issues, including the East Sea issue; support Laos to successfully fulfill its responsibility as ASEAN Chair 2024.

The Prime Minister asked Indonesia to send a high-level representative and support Vietnam in successfully organizing the ASEAN Future Forum on rapid, sustainable, people-centered development in 2024 to contribute to building a resilient and sustainable ASEAN Community.

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