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Indonesian envoy predicts enhanced economic ties

Update: June, 12/2012 - 10:42

HA NOI — The time was right for Indonesia and Viet Nam to strengthen relations and boost bilateral trade, according to Indonesian ambassador H.E. Mayerfas.

Speaking at the Indonesian Trade, Tourism and Investment Forum in Ha Noi yesterday, Mayerfas said the two countries shared several conditions that can lead to enhanced economic ties, as both countries had huge populations, growing economies and rising purchasing power parity. Viet Nam and Indonesia were also both members of ASEAN, he said.

"There are areas such as agriculture, fisheries, mining, pharmaceuticals, halal food and tourism that have huge potential for more bilateral co-operation," the ambassador said.

The two-day forum, themed ‘Indonesia-Viet Nam: Partnership for Prosperity', was one of Indonesia's initiatives aimed at bringing Indonesian and Vietnamese private sectors closer together, said Mayerfas.

Recent years have seen remarkable development in co-operation between Viet Nam and Indonesia, with bilateral trade seeing strong growth.

Two-way trade reached US$4.6 billion in 2011, the highest figure ever during the 67 years of diplomatic relation between the two countries, and a ten-fold increase within only 10 years.

Viet Nam Chamber of Commerce and Industry chairman Vu Tien Loc said that in addition to trade, there was great scope to further develop co-operation in investment.

Indonesia now ranks 29th among 91 countries and territories that have investments in Viet Nam, with 31 projects worth over $233 million.

Loc encouraged enterprises to take full advantage of the forum to boost co-operation, saying that new contracts inked between the firms would make an effective contribution to strengthening the bilateral relationship.— VNS

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