Vietnam-Indonesia trade to reach US$2b

07-Jan-2007 Intellasia | 22-APR-2002 Dau Tu Page 3 | 2:08 PM Print This Post

Vietnam-Indonesia two-way trade will reach US$2 billion in the near future, affirmed Aburizal Bakrie, president of Indonesia Chamber of Commerce and Industry in the forum on Vietnam-Indonesia two-way trade recently held in HCM City.

Fifteen leading businesses from Indonesia engaging in production and trading of fertiliser, interior furniture, leather, ocean forwarding, aviation, and telecommunications attended a forum to seek out business deals with Vietnamese firms. Two-way trade between the two countries increased from US$520 million in 2000 to US$600 in 2001, Bakrie said.

With a population of 210 million people, half of whom are middle-class, Indonesia will become a potential import market for Vietnamese exporters, said Aiyub Mohsin, Indonesian ambassador in Vietnam, adding that the country is now the leading importer of Vietnam rice. He said Vietnamese businesses could export such products as rice, beans, fruit and vegetables, sugar, and crude oil to Indonesia as the latter lacks these products.

However, as the two countries export many products of the same nature, said Do Thien Thanh, Vietnamese ambassador in Indonesia, both need to establish a cooperation committee to support barter trade, and to cooperate in expanding new markets and reduce dependence on such traditional markets as the US and EU.


Category: Business

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