Indonesia, Vietnam target US$10 billion in trade: Ambassador

Indonesia, Vietnam target US$10 billion in trade: Ambassador

Indonesian Ambassador to Vietnam Ibnu Hadi. (ANTARA)

I am optimistic that the total bilateral trade between Indonesia and Vietnam will reach around $9.6 up to $9.8 billion this year. So, the target of $10 billion can be achieved by 2020.
Jakarta (ANTARA) - Indonesian Ambassador to Vietnam Ibnu Hadi was optimistic that the target of US$10 billion in trade between Indonesia and Vietnam, set by the governments of the two countries, will be achieved by 2020. "I am optimistic that the total bilateral trade between Indonesia and Vietnam will reach around $9.6 up to $9.8 billion this year. So, the target of $10 billion can be achieved by 2020," Ambassador Hadi said at a media conference held here, Thursday.

Indonesian and Vietnamese governments have assured that they will do their utmost to reach the target of $10 billion.

The total trade between the two nations has increased significantly from 2016 to 2018, Ambassador Hadi stated. Trade increased gradually to more than 66 percent which reflects the effort of the two governments.

"The total trade between the two countries in 2018 increased by around 30 percent compared to that of the previous year, reaching $8.45 billion," he stated

Despite a trade deficit with most countries, Indonesia presents a surplus with Vietnam, and the gap has increased year after year.

The total bilateral trade between Indonesia and Vietnam from January to June 2019 has reached $4.26 billion, with a surplus of $1.04 billion for Indonesia.

"Our exports to Vietnam this year have increased, while imports have decreased. The total trade between Indonesia and Vietnam this year is projected to reach between $9.5 up and $9.8 billion," Ambassador Hadi noted.

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