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Viet Nam eyes Indonesia opportunities

Update: March, 29/2014 - 08:50
Last year, 10 main commodities were imported by Indonesia from Viet Nam, including mobile phones, steel, materials for textiles, garments, footwear and leather.— Photo seatimes

HCM CITY (VNS)— Indonesia's rapidly increasing middle class is creating a vibrant market for exporters, including Viet Nam, a conference heard on Thursday.

The Investment and Trade Promotion Centre's Viet Nam Exporters Association in cooperation with the Indonesian Consulate General in HCM City and Indonesian Ministry of Trade yesterday offered insights about the market to local businesspeople.

The seminar "Indonesia – Strength and Potential" attracted 100 representatives from a wide variety of companies.

Mayerfas, ambassador for Indonesia in Viet Nam, said Indonesia was one of the largest markets in Southeast Asia, and Viet Nam was the only country in the region with which Indonesia has a strategic partnership.

"The two countries share several modalities that can help in enhancing economic relations, including a huge population, increasing economic achievement, rising purchase power, geographical proximity and special members that belong to ASEAN," he said.

Last year, 10 main commodities were imported by Indonesia from Viet Nam, including mobile phones, steel, materials for textiles, garments, footwear and leather.

According to Ari Satria, a representative of the Indonesia Ministry of Trade, the country ranks fourth of the most populous countries worldwide.

The archipelago has a rising population share of middle class who spend $2-$20 a day.

"The rapidly increasing buying power of its huge population is creating a significant market," he said. — VNS

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