"In 2022, the trade value between the two countries reached US$13.3 billion"
Jakarta (ANTARA) - The Indonesian Ministry of Industry has invited Vietnam to strengthen bilateral cooperation in the industrial sector, including by increasing new investment that would lead to economic growth in both countries.

Industry Minister Agus Gumiwang Kartasasmita made the remarks while meeting Vietnamese Industry and Trade Minister, Nguyen Hong Dien, in Vietnam on Thursday (January 11). The meeting was a part of his agenda while accompanying President Joko Widodo on a state visit to Vietnam.

"Vietnam is one of Indonesia's main trading partner countries. Overall, the total trade between the two countries continues to increase. In 2022, the trade value between the two countries reached US$13.3 billion," he noted in a statement released by his office on Friday.

During the meeting, Kartasasmita said that in 2023, Indonesia successfully chaired ASEAN with the theme "Epicentrum of Growth." One of the agreements signed during the forum pertained to the formation of a task force to strengthen carbon reduction and good regulatory practices (GRP).

"We propose the need for cooperation in developing the industrial ecosystem, both bilaterally or through ASEAN," he added.

He also invited Vietnam to collaborate in encouraging private sector involvement in the ASEAN Industrial Project-Based Initiative (AIPBI), which was proposed by his party.

Minister Dien welcomed Kartasasmita's proposal to collaborate in the industrial sector, saying his country has a lot to learn from Indonesia.

Vietnam also lauded Indonesia's 2023 ASEAN chairmanship, which created many economic development priorities, including in the industrial sector.

"We will establish industrial cooperation through bilateral and ASEAN-level cooperation," Dien informed.

Vietnam also proposed cooperation in the fields of digital technology, semiconductors, and natural resources downstreaming since both countries have abundant natural resources — such as nickel (Indonesia) and rare earths (Vietnam) — which are needed for developing the electric vehicle ecosystem.

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Translator: Ade Irma J, Resinta Sulistiyandari
Editor: Arie Novarina
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