Vietnam, Indonesia Beef up Trade Linkages

Under the co-chair of Vietnamese Minister of Industry and Trade Vu Huy Hoang and Indonesian counterpart Giata Irawan Wirjawan, the two sides acknowledge the importance of encouraging their countries’ private sectors to boost ties; protecting their legal interests in anti-dumping lawsuits in line with international regulations and assisting business communities in surmounting the difficult period.

 

They agreed to speed up information sharing and trade promotion in each country and with a third side.

 

Two-way trade turnovers between Vietnam and Indonesia have rocketed from US$ 2.1 billion in 2009, to US$ 4.7 billion in 2011. It reached US$ 2.57 billion in the first seven months of 2012.

 

Vietnam proposed Indonesia facilitate Petrovietnam’s deployment of oil and gas projects with Indonesian partners and support Vietnamese businesses’ involvement in coal exploitation in the country.

 

The two sides reaffirmed the significance of fishery cooperation for each country’s economic growth and agreed to speed up the signing of a MoU on agricultural cooperation in favor of food diversification, food storage and insurance of food safety.

 

Earlier, Minister Hoang met with Indonesian Minister of Energy and Mineral Resources Jero Wacik to discuss possibilities and orientations for the two countries’ cooperation in the energy sector, especially in the coal and minerals fields.

 

The 6th JC-ESTC reviewed the agreements reached at the previous session in Ho Chi Minh in April 2009 and the Vietnam-Indonesia Action Plan in the 2012-2015 period signed on September 14, 2011 during the official visit of PM Nguyen Tan Dung to Indonesia.

 

The next session would take place in Vietnam within the next three years.