Indonesia, Vietnam to boost bilateral trade to US$10bn by 2018

During bilateral meeting of Indonesia and Vietnam held between President Joko “Jokowi” Widodo and Vietnamese Prime Minister Nguyen Tan Dung in the US on Monday agreed to boost bilateral trade to US$10 billion by 2018.

The target set is almost twice the current trade value between the two countries, which stands at $5.3 billion.

Prime Minister Nguyen Tang Dung welcomed the invitation to boost cooperation in trade and investment. Vietnamese investors have expressed their interest in investing in Indonesia’s oil and gas sector, as well as agriculture, as per a press statement issued by the State Secretariat.

In addition, the two leaders discussed the maritime boundaries between the two countries. Jokowi said that he expected immediate consultations to resolve boundary issues between the two countries, following a technical meeting on exclusive economic zones (ZEE) held between the two countries in December.

The meeting was preliminary to the ASEAN-US Summit.

Recent Posts

Swisstulle advances dyeing efficiency with JigMaster

Swisstulle adopted JigMaster for its dyeing and finishing operations, especially for high-quality technical textiles used in fashion and automotive industries.

3 days ago

Birla Cellulose and Circ partner to scale textile recycling

Birla Cellulose, a leader under the Aditya Birla Group, has announced a long-term partnership with Circ, a U.S.-based textile recycling…

3 days ago

CARBIOS unveils enzymatically recycled polyester t-shirt

CARBIOS has collaborated with leading brands Patagonia, PUMA, Salomon etc. to create a groundbreaking polyester garment made entirely from textile…

3 days ago

Yangi launches sustainable fiber-based food tray

Yangi, renowned for its renewable packaging solutions, has launched a fiber-based food tray as a sustainable alternative to plastic trays…

3 days ago

Tarpaulife Project develops alternative to PVC-coated fabrics

The European Tarpaulife Project is working on polyolefin-coated fabrics, such as polyethylene, that can be manufactured to compete with PVC-coated…

3 days ago

Better Cotton to standardise measurements for cotton production

Better Cotton has joined the global non-profit alliance, Cascale, in a three-year project aimed at standardising LCA methods across the…

3 days ago