Vietnam, Indonesia have potential to boost economic partnership: Experts

Nguyen Tuan, Vice Director of the Ho Chi Minh City and Trade Promotion Centre (ITPC), said that Indonesia is a big market for Halal products, and a promising importer of Vietnam among ASEAN member countries.

Statistics from the General Department of Vietnam Customs show that trade between Vietnam and Indonesia reached 11.58 billion USD in the first 10 months of 2022, including Vietnam’s exports of 3.78 billion USD, up 22.3% year on year.

Among Vietnamese products exported to Indonesia, computers, electronic products and components are the leading groups in terms of turnover.

Tuan held that Vietnamese products have gradually clinched their position in the Indonesian market with rising export revenue. However, strong products such as farm produce, garment and textile, foodstuff, home appliances and consumer goods have yet to be popular in the market, he said, stressing that there is high potential for the two sides to boost their economic, trade and investment partnership.

In order to optimise the advantages of businesses from the two sides and speed up the post-pandemic economic recovery, the ITPC will hold more trade promotions and exchange activities to support Vietnamese and Indonesian firms to meet and seek partnerships.

Indonesian Consul General in HCM City Agustaviano Sofjan underlined despite the adverse impacts of COVID-19 on the global economy, Vietnam and Indonesia have been the two fastest recovering economies in the region.

The results have not only benefited people of both countries, but have also contributed to creating a favourable business environment and stability in the region, he said.

The diplomat pledged that Indonesian agencies always create optimal conditions for businesses from both sides, thus creating more chances to expand their networks and seek more partnerships.