President Jokowi-PM Vietnam Sets New Bilateral Trading Target

President Joko Widodo met with Vietnamese Prime Minister Pham Minh Chinh (right) at the Government Office, Hanoi, on Friday (12/1/2023). (ANTARA/HO-Biro Press of the Presidential Secretariat RI)

JAKARTA - President Joko Widodo (Jokowi) held a bilateral meeting with Vietnamese Prime Minister Pham Minh Chinh at the Government Office (Government Office), Hanoi, on Friday, where the two agreed to increase the new target of bilateral trade.

The agreement was reached after the target of 10 billion US dollars (around Rp155.9 trillion) which was supposed to be set for 2023, was actually achieved in 2022.

"I believe His Majesty has agreed to set a trade target above USD 15 billion for 2028 where the expansion of market access and reduction of trade barriers are key," Jokowi said at the meeting, as stated by the Press Bureau of the Presidential Secretariat as reported by ANTARA, Friday, January 12.

President Jokowi also appreciated the strategic partnerships between the two countries that have produced various concrete cooperations, including a memorandum of understanding of cooperation in the field of information and communication technology signed today.

"This is in line with strengthening bilateral partnerships that take advantage of demographic bonuses, digitization, and high-tech industries to achieve mutual prosperity," he said.

The next collaboration discussed by the two leaders of the country is in the investment sector. President Jokowi appreciated the increase in investment of Indonesian companies in Vietnam and hoped that PM Pham Minh Chinh would continue to encourage a good investment climate.

"Please support Your Majesty 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 President Jokowi.

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 agricultural cooperation to be further strengthened through research on quality control and smart farming, encouraging the implementation of the MoU for fisheries cooperation, and eradicating the IUU of Fishing together.

Meanwhile, regarding cooperation in the renewable energy sector, President Jokowi welcomed the investment commitment of US$ 1.2 billion (equivalent to Rp. 18.7 trillion) from Vietnamese automotive manufacturer VinFast for the construction of an electric car and electric vehicle battery ecosystem in Indonesia.

The President also hopes that this commitment can encourage collaboration between countries in Southeast Asia to achieve the independence of the renewable energy industry

"Finally, thank you for your support from Vietnam for the chairmanship of Indonesia in ASEAN last year. ASEAN still has homework to do to solve the Myanmar crisis. For this reason, Indonesia will continue to support Laos chairmanship this year," said the President.