Vietnam, Indonesia look to raise bilateral trade to US$15 billion

HCMC – Vietnamese State President Vo Van Thuong and Indonesian President Joko Widodo have expressed their commitment to increasing bilateral trade from nearly US$14 billion in 2023 to over US$15 billion this year. This announcement came during their discussions in Hanoi on January 12, as part of Indonesian President Widodo’s State visit to Vietnam from January 11 to 13. President Widodo praised increased investments from both countries, particularly highlighting Vinfast’s commitment to invest US$1.2 billion in developing an ecosystem of electric vehicles and batteries in Indonesia. Establishing diplomatic relations in 1955, Vietnam and Indonesia elevated their relations to a comprehensive partnership in 2003 and a strategic partnership in 2013. Bilateral trade reached US$14 billion in the previous year, up from US$9 billion in 2019.