Politics

Indonesian President’s visit to expand bilateral economic cooperation

Indonesian President Joko Widodo will pay a visit to Hanoi from September 11-12, aiming to develop economic cooperation potential and expand market access between Vietnam and Indonesia.
Indonesian President’s visit to expand bilateral economic cooperation ảnh 1Indonesian President Joko Widodo (Source: AFP/VNA)

Jakarta (VNA) – IndonesianPresident Joko Widodo will pay a visit to Hanoi from September 11-12, aiming todevelop economic cooperation potential and expand market access between Vietnamand Indonesia.

Indonesian Foreign Ministryspokesperson Arrmanatha Nasir said viewing such areas of potential, thePresident is keen to ensure that the two countries have the opportunity tocooperate further.

According to Indonesia’s Antara News,Indonesia and Vietnam are among countries with a large population, rankingfirst and third in the Association of Southeast Asian Nations (ASEAN). Bothcountries have also shown high economic growth in the last three years.

In terms of trade and investment, thegovernments of both countries will put in efforts to reduce trade barriers.

The leaders of both nations have agreedto accelerate the implementation of an action plan to improve Vietnam-IndonesiaStrategic Partnership during the 2014-2018 period and also forge economic,trade, and investment relations.

During his stay in Hanoi, PresidentJokowi is scheduled to meet his Vietnamese counterpart Tran Dai Quang todiscuss a number of issues, including cooperation in maritime and fisheries aswell as the completion of the Exclusive Economic Zone boundaries in the EastSea.

Arrmanatha said maritime bordernegotiations are indeed a lengthy process, raising hope for a political pushfrom the two leaders to accelerate the process.

The governments of both nations willalso sign two memoranda of understanding on health and tourism, as well asissue a joint communiqué on illegal, unreported and unregulated fishing.

In addition to the bilateral meeting,President Jokowi is scheduled to speak at the World Economic Forum on ASEANthemed "ASEAN Priorities in the Fourth Industrial Revolution", whichis relevant to considering the world is currently entering the IndustrialRevolution 4.0 and present challenges.

The message that the President will deliver at the forum is the importance ofASEAN to have a strategy in place to handle the impacts of the fourthIndustrial Revolution, according to Arrmanatha.

Moreover, it is important to develop cooperation among stakeholders to engagestartups and small and medium enterprises (SMEs) in building inclusive valuechains and innovative economy since the Industrial Revolution 4.0 is not onlyrelated to large industries.-VNA
VNA
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