VietNamNet - The Indonesia-Vietnam Business Forum will be held in HCM City on April 28 seeking new opportunities and potential in boosting two-way trade between Indonesia and Vietnam.
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| Vietnamese export turnover to Indonesia recorded at US$438mil last year, primarily sourced in crude |
VietNamNet - The Indonesia-Vietnam Business Forum will be held in HCM City on April 28 seeking new opportunities and potential in boosting two-way trade between Indonesia and Vietnam.
The Business Forum will also pave the way for enhanced relations between the two Ministries of Trade, chambers of commerce KADIN & VCCI, as well as the two business circles.
Minister of Trade of the Republic of Indonesia Elka Pangestu will join the meeting as Head of the Indonesian Trade Mission. Minister of Trade of the Socialist Republic of Vietnam Truong Dinh Tuyen, and representatives from the two Chambers of Industry and Commerce - KADIN and VCCI - will also be present at the Business Forum.
During the forum, there will also be one-on-one sessions with VCCI and Vietnamese entrepreneurs to identify concrete methods and means to boost trade circulation and cooperation between the two nations.
In 2004, two-way trade was valued at US$1.1bil, the figures awarding surplus of US$662mil to Indonesia. Indonesian exports to Vietnam include petrol, fertiliser, steel, raw textile materials, chemical products, motorbike spares, automotive components, plastics, and pharmaceutical products.
Meanwhile, Vietnamese export turnover recorded at US$438mil, primarily sourced in crude oil, rice, fruit and vegetables, seafood, coffee, tea, rubber, footwear and garments.
It is expected that two-way trade value between Indonesia and Vietnam will reach US$1.5bil in 2005. Vietnam is regarded as one of Indonesia’s larger trade partners.
According to the Indonesian foreign trade statistics 2003, Vietnam ranks 21st with a 0.77% share of the total export (by country of destination), and 17th (by country of origin) with the share of 1.28% of the total import respectively.
