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Indonesia, Vietnam to boost bilateral trade to US$10bn by 2018

YarnsandFibers News Bureau 2016-02-22 16:00:00 – Jakarta

During bilateral meeting of Indonesia and Vietnam held between President Joko “Jokowi” Widodo and Vietnamese Prime Minister Nguyen Tan Dung in the US on Monday agreed to boost bilateral trade to US$10 billion by 2018.

The target set is almost twice the current trade value between the two countries, which stands at $5.3 billion.

Prime Minister Nguyen Tang Dung welcomed the invitation to boost cooperation in trade and investment. Vietnamese investors have expressed their interest in investing in Indonesia’s oil and gas sector, as well as agriculture, as per a press statement issued by the State Secretariat.

In addition, the two leaders discussed the maritime boundaries between the two countries. Jokowi said that he expected immediate consultations to resolve boundary issues between the two countries, following a technical meeting on exclusive economic zones (ZEE) held between the two countries in December.

The meeting was preliminary to the ASEAN-US Summit.

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