Viet Nam, Indonesia seek to boost bilateral trade
Ha Noi (VNA) - The Viet Nam-Indonesia Business Forum will be held in Ho Chi Minh City on April 28, 2005.
Indonesian Trade Minister, Elka Pangestu, and representatives from the Viet Nam Chamber of Commerce and Industry (VCCI) and Indonesian Chamber of Commerce and Industry (KADIN) will attend the forum.
The forum is aimed at searching for new opportunities and potential in boosting bilateral trade between Indonesia and Viet Nam. It will also pave the way for an enhanced relationship between the two ministries of trade, VCCI and KADIN.
During the forum, there will be one-on-one sessions with VCCI and Vietnamese entrepreneurs to find concrete ways and means to boost trade circulation and cooperation between the two nations.
It hoped that the forum would encourage further activities to lay the foundations for boosting not only business contacts but also people-to-people contacts as enshrined in the Declaration on the Framework of Friendly and Comprehensive Partnership Entering the 21st Century signed between the Governments of Viet Nam and Indonesia in June 2003.
In 2004, two-way trade was valued at 1.1 billion USD with surplus for Indonesia (662 million USD). Indonesia exports to Viet Nam include petrol, fertiliser, steel, textile raw materials, chemical products, motorbike parts, auto kits, plastic materials, machinery, spare parts and pharmaceutical products. Meanwhile, Vietnamese exports to Indonesia reached 438 million USD and include crude oil, rice, groundnuts, fruit and vegetables, seafood, coffee, tea, rubber, footwear and garments.
It is expected that two-way trade value between Viet Nam and Indonesia will reach 1.5 billion USD. Furthermore, it is noteworthy that Viet Nam is regarded as a big trade partner for Indonesia.
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