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Indonesia targets $10b trade with Vietnam by 2020: Jokowi

The government aims to increase trade with Vietnam to US$10 billion annually from $6.8 billion, last year, with President Joko “Jokowi” Widodo on a visit to the country.

Jokowi arrived in Hanoi on Tuesday after concluding his visit to South Korea.

“In the last three years, our trade with Vietnam had seen an increase to $6.8 billion. We hope that in 2020, our trade will reach $10 billion,” said Jokowi in a statement on Wednesday.

Meanwhile, during Jokowi’s visit to South Korea, Indonesia signed agreements worth 5.76 billion. The President targeted $30 billion trade with the country by 2020.

While meeting with Vietnamese President Vietnam Trần Đại Quang in Hanoi on Tuesday, Jokowi said he had called on the Vietnamese government to eliminate trade barriers.

“I have asked President Trần Đại Quang to eliminate trade barriers, including those for automotive products from Indonesia,” Jokowi said, adding that during the meeting, he had also expressed the wish of Indonesian investors to develop their businesses in Vietnam.

During Jokowi’s visit, Indonesia and Vietnam signed a joint communique on fighting illegal, unreported and unregulated (IUU) fishing. The two leaders also agreed to intensify negotiations on an exclusive economic zone. (bbn)

Source: The Jakarta Post