Monday, February 26, 2024
Monday, February 26, 2024
Home » Trade Minister Suggests Reactivating Bilateral Forum With Vietnam

Trade Minister Suggests Reactivating Bilateral Forum With Vietnam

by Kimo Vongphakdy
0 comment 42 views


Indonesia’s Trade Minister Zulkifli Hasan has suggested reactivating the bilateral forum with Vietnam to improve bilateral trade.

“The proposal was welcomed by Vietnam as the bilateral meeting between the two countries had stopped due to the COVID-19 pandemic,” Hasan said in Semarang, Central Java on Sunday after the meeting with his Vietnamese counterpart Nguyen Hong Dien.

Hasan and Dien held a bilateral meeting on the sidelines of the 55th ASEAN Economy Minister Meeting (AEM) and Related Meeting held in Semarang.

The minister has conveyed his interest to visit Vietnam along with entrepreneurs in various sectors such as agriculture, fishery, and electric vehicle industry including the processing of rare earth metals to explore business cooperation with Vietnam.

Meanwhile, Vietnamese Trade Minister Nguyen Hong Dien stated that his country is ready to cooperate with Indonesia and expects that the reactivation of bilateral forums can reduce trade barriers.

Dien would also invite Vietnamese businessmen to attend the Business Forum to be held on the sidelines of the ASEAN Summit in September in Jakarta. The country has eyed Indonesia’s corn and crude palm oil.

In response to Dien’s plan, Hasan stated that he would arrange a meeting between Vietnamese businessmen and Indonesia’s largest CPO producer.

“We are ready to bring together Vietnamese businesspersons with Indonesia’s top CPO producer,” he said.

Total trade between Indonesia and Vietnam in January-June 2023 was recorded at US$6.22 billion. Whereas in 2022, the total trade between the two countries reached US$13.31 billion, an increase compared to 2021 which amounted to US$11.06 billion.

In 2022, Indonesia’s exports to Vietnam were recorded at US$8.49 billion while imports from Vietnam reached US$4.82 billion. Thus, Indonesia has a trade surplus of US$3.67 billion.

Source: Antara News

You may also like

Hanoi Observer is a global leader in the online news. We seek to inform and engage with our readers. Staffed 24 hours, seven days a week by a dedicated team around the globe, we deliver news from journalists around the world. We are contrarian truth-seekers and truthtellers. We are journalists united by a mission to inform and engage with our readers.

We bear witness to history as it unfolds and explain not just what happened, why it happened and what it means to our readers and the public.

We are contrarian, we are committed to the news, speaking truth to power.

Hanoi Observer, A Media Company – All Right Reserved.