President Jokowi, Vietnamese PM Set New Target for Bilateral Trade

President Jokowi takes a photo with Vietnamese PM Pham Minh Chinh, at the Government Office, Hanoi, Vietnam, Friday (01/12). (Photo by: BPMI/Rusman)

President Joko “Jokowi” Widodo held a bilateral meeting with Prime Minister of Vietnam Pham Minh Chinh, at the Government Office, Hanoi, Vietnam on Friday (01/12).

The two leaders agreed to increase the new target for bilateral trade between the two countries after the previous target of Rp10 billion was successfully achieved in 2022.

“I believe His Majesty agreed to set a trade target of above Rp15 billion for 2028. Expanding market access and reducing trade barriers are keys,” said the President.

President Jokowi also appreciated the strategic partnership between the two countries which has resulted in various concrete collaborations, including a memorandum of understanding on cooperation in the field of information and communication technology which was signed today.

“This is in line with strengthening bilateral partnerships that take advantage of the demographic bonus, digitalization and high-tech industry to achieve mutual prosperity,” said the President.

The two state leaders also discussed about investment. President Jokowi appreciates the increase in investment by Indonesian companies in Vietnam and expressed hope that PM Pham Minh Chinh will continue to encourage a good investment climate.

​“We ask for your Excellency’s support to continue to encourage an investment climate that prioritizes investor protection aspects in accordance with the agreement between the two countries and the ASEAN Comprehensive Investment Agreement,” said the President.

On that occasion, President Jokowi also asked for PM Pham Minh Chinh’s support so that rice imports from Vietnam run smoothly. Not only that, the President also wants to strengthen agricultural cooperation through research on quality control and smart farming, encourage the implementation of the MoU on fisheries cooperation, and jointly eradicate IUU fishing.

Meanwhile, regarding cooperation in the renewable energy sector, President Jokowi welcomed VinFast’s investment commitment worth Rp1.2 billion for the development of Indonesia’s electric car and battery ecosystem. The President also expressed hope that this commitment can encourage collaboration between countries in Southeast Asia to achieve independence in the renewable energy industry

“Lastly, thank you for Vietnam’s support for Indonesia’s chairmanship of ASEAN last year. ASEAN still has homework to resolve the Myanmar crisis. For this reason, Indonesia will continue to support the chairmanship of Laos this year,” said the President. (BPMI/AIT) (EST/LW)