WORDS ON THE STREET 70th anniversary of Hanoi's Liberation Day Vietnam - Asia 2023 Smart City Summit Hanoi celebrates 15 years of administrative boundary adjustment 12th Vietnam-France decentrialized cooperation conference 31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Economy / Industry
Vietnam, Indonesia to boost cooperation in key industrial sectors
Nguyen Tung 11:45, 2021/06/23
This is among measures that should help strengthen bilateral trade relations during the Covid-19 pandemic.

Vietnam and Indonesia as two countries with economic potentials and large domestic markets should boost cooperation in key industrial sectors, including automobile, mechanics, chemicals, materials, and supporting industries.

 Overview of the meeting. Photo: MoIT

Minister of Industry and Trade Nguyen Hong Dien and Indonesian Ambassador to Vietnam Denny Abdi agreed on the view in a meeting on June 22 to discuss measures to enhance bilateral trade relations during the current Covid-19 pandemic.

Minister Dien proposed the soon organization of the Indonesia-Vietnam Joint Committee on Economic, Science, and Technology Cooperation, along with the signing and subsequent implementation of the memorandum of understanding in rice trading between two trade ministries.

 Minister of Industry and Trade Nguyen Hong Dien at the meeting

“Amid the Covid-19 pandemic, two sides should actively address trade barriers to facilitate the smooth operation of supply chains and movements of goods, while promoting bilateral trade cooperation in multilateral forums,” Dien continued.

Mentioning the Regional Comprehensive Economic Partnership (RCEP) as a major milestone for member countries in regional economic integration, Dien said Vietnam is proceeding with necessary legal procedures for the ratification of the deal in 2021.

“Vietnam looks forward to closely cooperating with Indonesia and ASEAN in putting the deal into practice and bringing benefits for two business communities and those in the RCEP,” he said.

 Indonesian Ambassador to Vietnam Denny Abdi

Indonesian Ambassador to Vietnam Denny Abdi said Vietnam and Indonesia are major partners of each other in the region and of the world, expressing his belief for a bright prospect in the bilateral relationship.

Abdi expressed his commitment to further trade and economic cooperation between the two, including the industrial sector.

The Ambassador suggested both countries could enhance cooperation in science, technology, training human resources, saying these are key to generate higher added value for products and services and eventually economic benefits.

During the 2013-2019 period, Vietnam-Indonesia trade turnover rose sharply from US$5 billion to US$9 billion. While the figure slightly went down in 2020 due to the pandemic, both countries witnessed a strong recovery in the first five months of this year to US$4.5 billion, a surge of 40% year-on-year.

RELATED NEWS
TAG: Vietnam Indonesia trade relations Covid-19 pandemic industrial sectors
Other news
17:35, 2024/11/23
Hanoi gears up for Tet: ensuring a steady supply of safe food
The city will work closely with other cities and provinces to ensure that consumers in the capital have access to safe food and agricultural products.
14:47, 2024/11/15
Year-end hiring spree as Hanoi companies ramp up recruiting
In the fourth quarter, many major holidays will lead to increased hiring as companies finalize orders and anticipate new projects.
13:33, 2024/11/14
Vietnam's digital economy expected to grow big in 2024
E-commerce is expected to reach US$22 billion in 2024, leading the growth of Vietnam's digital economy.
22:03, 2024/11/13
Incheon-Hanoi conference marks milestone in tourism development cooperation
Hanoi and South Korea's Incheon aim to increase their visibility among Vietnamese and international travelers through a series of events to promote MICE (Meetings, Incentives, Conferences and Exhibitions) tourism and medical tourism to Vietnam.
14:21, 2024/11/12
Hanoi's businesses place focus on digital transformation
Businesses need to utilize digital technologies to streamline operations, increase efficiency, and provide greater value to customers.
03:04, 2024/11/08
Semiconductor market reaches $18.2 billion: SEMIEXPO Vietnam 2024
Vietnam a key player in tackling the challenges facing the global semiconductor supply chain.