Indonesia, Vietnam Seek to Expand Trade Relations

President Jokowi and Prime Minister of Vietnam Pham Minh Chinh hold a bilateral meeting at the Meruorah Hotel, Labuan Bajo, West Manggarai regency, East Nusa Tenggara province, Tuesday (05/09). Photo by: BPMI of Presidential Secretariat.

President Joko “Jokowi” Widodo and Prime Minister of Vietnam Pham Minh Chinh on Tuesday (05/09) held a bilateral meeting at the Meruorah Hotel, Labuan Bajo, West Manggarai regency, East Nusa Tenggara province.

During the meeting, the two leaders discussed the measures to expand trade cooperation between the two countries.

“The two leaders discussed the measures to meet the trade target of US$ 15 billion for the year of 2028,” Minister of Foreign Affairs Retno LP Marsudi said in a statement after accompanying the President in the bilateral meeting.

“Both of them are optimistic that the target will be met on condition that all trade restrictions or trade barriers can be reduced if not completely eliminated,” the Minister added.

Retno further said that the two leaders also agreed to immediately negotiate a bilateral investment agreement between the two countries in line with the increase in investment from both parties.

“In addition, the two leaders also agreed to increase cooperation in the sector of new and renewable energy,” she said.

President Jokowi and PM Pham Minh Chinh also agreed to immediately finalize the implementing arrangements and the ratification process related to the completion of the Exclusive Economic Zone (EEZ) negotiations between the two countries.

“Regarding the signing or completion of the EEZ negotiations between Indonesia and Vietnam, the two leaders agreed that the implementing arrangements and ratification process could be completed immediately. The President also said that the MoU regarding maritime affairs and fisheries can be completed shortly,” the Foreign Minister said.

Accompanying the President in the bilateral meeting were Minister of Foreign Affairs Retno LP Marsudi, Minister of State Secretary Pratikno, and Minister of State-Owned Enterprises Erick Thohir.

(BPMI of Presidential Secretariat/FID/UN) (RI/MMB)