Việt Nam and Indonesia pledge to elevate bilateral trade beyond $15 billion

President Võ Văn Thưởng welcomes Indonesian President Joko Widodo. VNA/VNS Photo

HÀ NỘI — State President Võ Văn Thưởng on Friday chaired an official welcome ceremony in Hà Nội for Indonesian President Joko Widodo who is on a three-day State visit to Việt Nam. The welcome ceremony was held with 21-cannon salute, the highest level for a head of state.

After the ceremony, the two Presidents held talks, in which President Thưởng underscored Việt Nam’s enduring commitment to strengthening the traditional relationship and Strategic Partnership with Indonesia, rooted in historical ties, shared values and mutual interests. President Thưởng emphasised the importance of trust, mutual understanding, and a collective dedication to upholding international law as pillars of this partnership.

The President commended Indonesia for its remarkable domestic and international achievements under the leadership of President Joko Widodo over the past two terms. He extended congratulations for Indonesia’s successful tenure as the G20 Chair in 2022 and its roles as Chair of ASEAN and AIPA in 2023. President Thưởng expressed well wishes for Indonesia’s upcoming General Election, anticipating continued prosperity, and acknowledged Indonesia’s positive contributions to regional and global peace and cooperation.

President Joko Widodo expressed gratitude for the warm welcome and shared his delight in visiting Việt Nam for the second time during his presidency. The Indonesian emphasised his commitment to enhancing traditional friendship and cooperation with Việt Nam, highlighting Việt Nam as the sole Strategic Partner of Indonesia within ASEAN.

Both leaders expressed satisfaction with the robust and dynamic development of the Việt Nam-Indonesia Strategic Partnership. Regular exchanges of delegations and high-level contacts have been maintained, with notable instances such as the phone call between General Secretary Nguyễn Phú Trọng and President Joko Widodo in August 2022. The successful implementation of the Strategic Partnership Action Programme for the period 2019-2023 was acknowledged. Cooperation in critical areas including national security and defence, education and training, culture and tourism, local connections, and people-to-people exchanges continues to thrive.

In the ASEAN context, Indonesia stands as Việt Nam’s 3rd largest trading partner, and reciprocally, Việt Nam holds the position of Indonesia’s 4th largest trading partner. Despite the challenges posed by COVID-19, bilateral trade turnover has shown positive growth, increasing from US$9 billion in 2019 to nearly $14 billion in 2023. This signifies the resilience and adaptability of the bilateral economic relationship between Việt Nam and Indonesia.

In discussing pivotal cooperation directions for the future, the two sides reached a consensus on bolstering political trust through extensive delegation exchanges and high-level contacts across all levels. They committed to the effective deployment of existing bilateral cooperation mechanisms and swiftly formulating an Action Programme for the period 2024-2028 that aligns with the evolving global context.

Recognising the substantial accomplishments achieved over the past 70 years, both leaders underscored the need to elevate the Strategic Partnership between the two countries to new heights.

Emphasising the importance of defence-security and maritime cooperation, the two sides pledged to strengthen collaboration in these vital areas. They also agreed to enhance the exchange of experiences in preventing transnational crime and committed to preventing any individual or organisation from utilising one country’s territory to undermine another.

Additionally, both nations pledged to foster effective cooperation in agriculture, fisheries, information-communication, education-training, culture, sports and tourism. Initiatives such as opening more direct flights and facilitating connectivity between localities, businesses and people-to-people exchanges were highlighted.

In line with their commitment to innovation and progress, the leaders agreed to broaden cooperation in emerging fields such as smart finance, energy conversion, digital transformation, and the development of electric vehicle and electric battery ecosystems. This forward-looking approach reflects the shared aspiration to capitalise on new opportunities and address contemporary challenges, thereby fortifying the robust partnership between the two nations.

The two sides affirmed their commitment to boosting bilateral trade turnover, aiming to surpass the $15 billion mark in the near future. To achieve this, they agreed to actively reduce trade barriers and facilitate the import and export of key products, with a specific emphasis on rice trade.

President Võ Văn Thưởng urged Indonesia to create favourable conditions for Vietnamese agricultural and Halal products to access the Indonesian market. Furthermore, he encouraged Indonesian businesses to expand their investments in Việt Nam.

President Thưởng conveyed his appreciation for the increasing interest of Indonesian businesses in Việt Nam and expressed hope for reciprocal expansion of Vietnamese investments in Indonesia.

In addressing regional and international issues of mutual concern, both leaders agreed to strengthen consultation, close coordination, and mutual support at regional and international forums. They emphasised the promotion of solidarity and the central role of ASEAN, committing to work in coordination with other ASEAN countries to support Laos in successfully assuming the role of ASEAN Chair in 2024. This collaborative approach reflects the shared commitment to regional stability, cooperation and the advancement of ASEAN’s central role in addressing collective challenges.

The two leaders reaffirmed the importance of peace, stability, safety, security and freedom of maritime navigation and aviation in the East Sea; working together to maintain ASEAN’s solidarity and a common stance on the East Sea (internationally known as the South China Sea) issue; fully and effectively implementing the Declaration on the Conduct of Parties in the South China Sea (DOC), and making efforts to promote negotiations to achieve a substantive, effective and appropriate Code of Conduct (COC), according to international law, especially UNCLOS 1982. VNS