Vietnam, Indonesia hope to double trade in five years


Thanh Nien Daily (Vietnam)
April 25, 2009

Indonesia and Vietnam are working to double bilateral trade in the next five years from US$2.5 billion in 2008, the two nations’ trade ministers said after their meeting in Ho Chi Minh City Friday.

Mari Elka Pangestu, the Indonesian trade minister, and Vietnamese Minister of Industry and Trade Vu Huy Hoang signed a memorandum of understanding highlighting cooperation in agriculture, especially rice farming and coal mining at their meeting.

Pangestu said the agreement would pave for boosting trade and investment between the two countries.

Hoang said Indonesia was one of Vietnam’s biggest Southeast Asian markets.

He said the link between the two countries would offer competitive products to not only each other but also other members of the Association of Southeast Asian Nations (ASEAN) as well as other Asian countries like Japan, South Korea and China.

Indonesia has invested around $170 million in Vietnam, mainly in property and coal mining, according to Hoang.

Reported by Minh Quang

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