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Vietnam, Indonesia target 10 bln USD in two-way trade by 2018

Vietnam and Indonesia have agreed to increase their two-way trade to 10 billion USD by 2018 as part of the two countries’ strategic partnership.
Vietnam and Indonesia have agreed to increase their two-way trade to 10billion USD by 2018 as part of the two countries’ strategic partnership.

Thetarget was set during a meeting between State President Truong Tan Sangand Indonesia’s President Joko Widodo on the sidelines of the Asia-Pacific Economic Cooperation (APEC) Economic Leaders’ Meeting inBeijing, China, the Indonesian Foreign Ministry said in its recent pressrelease on the results of APEC, ASEAN and G20 meetings.

Accordingto the statistics of Indonesia’s Foreign Ministry and nationalstatistics office (BPS), two-way trade between two countries annuallyrose 25 percent in the past five years to reach 5.12 billion USD in2013, doubling the figure in 2009. In the first eight months of thisyear, bilateral trade was 3.71 billion USD.

Indonesia’s investment in Vietnam is still moderate with the largest project on cement production worth 300 million USD.

According to Indonesia’s media and relevant agencies, Vietnam andIndonesia have a number of opportunities for mutual benefit.-VNA
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