Vietnam, Indonesia seek stronger investment, trade partnership

Minister of Industry and Trade Nguyen Hong Dien (Thirdm left) has a working session on August 19 with Indonesian Minister of Trade Zulkifli Hasan (Photo: VNA)

Minister of Industry and Trade Nguyen Hong Dien had a working session on August 19 with Indonesian Minister of Trade Zulkifli Hasan on the sidelines of the 55th ASEAN Economic Ministers (AEM) that is taking place in Semarang, Indonesia.

The Indonesian official affirmed that Indonesia always considers Vietnam an important economic and trade partner in Southeast Asia. He noted that although bilateral trade cooperation has developed positively in recent years, there are still some barriers hindering the partnership.

In order to continue to promote bilateral ties, he suggested that Vietnam resume delegation exchange activities as well as cooperation mechanisms, including the annual forum between the two ministries which has been halted for years.

He highlighted the cooperation potential between the two countries in aquaculture and the electric automobile industry. He said that Indonesia hopes to learn from Vietnam's experience in aquatic farming, production and export as well as fisheries activities, which is a strength of Vietnam.

Indonesia also wants Vietnamese investors and businesses to cooperate with their Indonesian peers in electric vehicle (EV) production, a strong sector of Indonesia, he said.

For his part, Dien agreed that the resumption of the bilateral cooperation and information exchange mechanisms is necessary for the two sides to update each other on bilateral cooperation and settle obstacles and problems in bilateral trade ties.

Minister of Industry and Trade Nguyen Hong Dien (R) meets with President of Indonesia's Chamber of Commerce and Industry (KADIN) and Chairman of the ASEAN Business Advisory Council (ABAC) Arsjad Rasjid. (Photo: VNA)

He also affirmed that Vietnam is willing to cooperate with Indonesia in fisheries and EV manufacturing, and proposed that Hasan encourage Indonesian fisheries firms to join trade fairs and promotion activities as well as business forums in Vietnam to connect with local enterprises.

Dien also suggested that Minister Zulkifli Hasan and the Indonesian Ministry of Trade create favorable conditions for Vietnam to stably import coal and crude palm oil to ensure energy security and stability for domestic production.

Earlier the same day, Dien also had a working session with President of Indonesia's Chamber of Commerce and Industry (KADIN) and Chairman of the ASEAN Business Advisory Council (ABAC) Arsjad Rasjid.

Dien hailed initiatives and cooperation proposals of KADIN, holding that they will bring great benefits to ASEAN members and the business community, especially small and medium-sized ones.

He underlined the cooperation potential between the two countries and stressed the need for the two sides to work closely together to maintain existing supply chains and form new ones to make products with high added values, while strengthening cooperation in areas such as fisheries, electric vehicle industry, infrastructure investment, digital economy, circular economy, Halal industry and tourism.

He suggested that KADIN should continue to support businesses of both sides to access and implement business and trade activities in each other's market and join trade promotion activities in each country.

The minister also asked KADIN to continue to work closely with the Ministry of Industry and Trade of Vietnam to have more effective and substantive business support activities in the coming time./.