World Economy

Indonesia, Vietnam Strengthen Trade Ties

Indonesia, Vietnam Strengthen  Trade TiesIndonesia, Vietnam Strengthen  Trade Ties

Indonesia and Vietnam have agreed to strengthen bilateral ties in order to enhance trade activities at the ASEAN level, reported. “Our strategy is to strengthen Vietnam’s position as Indonesia’s main regional chain of supply in ASEAN,” said Trade Minister Enggartiasto Lukita on Monday. Enggartiasto said that the strategy is more practical for Indonesia instead of directly competing with Vietnam. He issued his statement during the 7th Indonesia–Vietnam Joint Commission on Economic, Science, and Technical Cooperation held on Saturday. During the event, Indonesia talked about its access into the Vietnamese market on the products of medicines, coal, beef and eggs. Meanwhile, Vietnam highlighted Indonesia’s trade safety policy, horticulture imports and local contents. Enggartiasto explained that the Vietnamese market is the third largest market in ASEAN regions following Indonesia and the Philippines with 93.3 million people and has 70% growth of the middle class.


Add new comment

Read our comment policy before posting your viewpoints