Vietnam – Indonesia promote cooperation within the framework of Comprehensive Strategic Partnership

Outstanding achievements in two-way trade between Vietnam and Indonesia

On the afternoon of April 24, 2025, at the headquarters of the Ministry of Industry and Trade , Deputy Minister Nguyen Sinh Nhat Tan had a meeting and worked with Mr. Arif Havas Oegroseno, Deputy Minister of Foreign Affairs of Indonesia on the occasion of the official visit to Vietnam of the delegation of the Ministry of Foreign Affairs of Indonesia from April 23 to 26, 2025.

Working scene.

The visit takes place in the context of the strong and comprehensive development of Vietnam - Indonesia relations, towards the 70th anniversary of the establishment of diplomatic relations between the two countries (1955 - 2025).

The working session between the Vietnamese Ministry of Industry and Trade and the Indonesian Ministry of Foreign Affairs is the basis for the two sides to discuss measures to promote economic , trade and industrial cooperation to implement the results of the official visit to Vietnam by Indonesian President Prabowo Subianto (September 2024) and the recent official visit to Indonesia by General Secretary To Lam (March 2025).

At the meeting, the two Deputy Ministers were pleased to acknowledge the outstanding achievements in two-way trade between Vietnam and Indonesia in recent times. In 2024, bilateral trade turnover between the two countries reached 16.7 billion USD, an increase of 21.2% compared to 2023, the highest level ever. In the first quarter of 2025, bilateral trade turnover between the two countries reached 4.2 billion USD, an increase of 16.8% compared to the same period in 2024.

If the above growth rate can be maintained, the target of bilateral trade turnover reaching 18-20 billion USD by 2028 as set by the two countries' senior leaders is completely feasible. Both sides agreed to make efforts to increase bilateral trade turnover even higher, commensurate with the inherent potential of the two countries as well as the Comprehensive Strategic Partnership between Vietnam and Indonesia.

Deputy Minister Nguyen Sinh Nhat Tan and Indonesian Deputy Minister of Foreign Affairs Arif Havas Oegroseno

In the context of the world political and economic situation continuing to have rapid, complex and unpredictable developments such as trade wars, increasing protectionism, some major countries imposing reciprocal tariffs on imported goods, and supply chains continuing to face the risk of disruption, the two Deputy Ministers discussed and agreed that Vietnam and Indonesia need to connect with each other, promote the strengths of each country, and promote mutual complementarity to help the economies of the two countries avoid being affected by negative impacts from external factors.

Proposal for economic, scientific and technical cooperation

Based on the achievements, Deputy Minister Nguyen Sinh Nhat Tan proposed a number of specific measures such as: The two sides should soon organize the 8th Meeting of the Vietnam - Indonesia Joint Committee on Economic, Scientific and Technical Cooperation, to review and promote bilateral cooperation programs.

Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan speaks.

At the same time, closely coordinate and implement agreements and MOUs signed between the two countries such as the Letter of Intent on cooperation in capacity building in the fields of technology and digital economy, MOUs on cooperation in energy and mineral resources, and gas use between Vietnam and Indonesia.

In addition, it is necessary to strengthen trade promotion, organize forums connecting Vietnamese and Indonesian businesses focusing on potential industries such as agriculture, fisheries, food industry, logistics, electric vehicles; encourage businesses of the two countries to participate in bilateral trade fairs and seminars.

Remove trade barriers and barriers that cause difficulties in bilateral trade relations. Encourage and facilitate investment and business activities of enterprises of the two countries in new fields such as new industries, creative industries, service industries, and supply chain connectivity.

In response to the Indonesian Deputy Foreign Minister's request to support major investment projects between the two countries, especially the cooperation project between PVN/PVGas Vietnam and Harbour Energy Indonesia, Deputy Minister Nguyen Sinh Nhat Tan emphasized: The Ministry of Industry and Trade always accompanies and commits to providing maximum support to businesses within its scope of responsibility, bringing practical benefits to both countries.

Mr. Arif Havas Oegroseno, Deputy Minister of Foreign Affairs of Indonesia (front row, center) speaks.

Within the framework of regional cooperation, the two Deputy Ministers agreed to closely coordinate, especially within the framework of ASEAN and ASEAN+; and coordinate with other ASEAN countries to promote intra-bloc trade to enhance autonomy, contributing to maintaining domestic and regional economic stability.

Delegates took souvenir photos after the meeting.

At the end of the meeting, the two sides believed that with strong support from senior leaders of the two countries, the spirit of open cooperation and efforts of ministries, sectors and the business community, the economic, trade, industrial and energy cooperation between Vietnam and Indonesia will be continuously strengthened and developed to a new height.

Tran Dinh

Source: https://congthuong.vn/viet-nam-indonesia-thuc-day-hop-tac-trong-khuon-kho-doi-tac-chien-luoc-toan-dien-384745.html