January 22, 2024

Vietnam looks for more access to Indonesia's agricultural products market

Vietnam wants Indonesia to open up greater access to its agricultural products as both countries agree to boost trade and strengthen food security.

Vietnamese President Vo Van Thuong had hosted his counterpart, Indonesian President Joko Widodo, for trade-focused talks in Hanoi, Vietnam, this month. During the meeting, Thuong encouraged Jokowi to let more Vietnamese agricultural products enter Indonesia.

"Vietnam asks Indonesia to make it easier for Vietnamese agricultural products … to enter the Indonesian market," Thuong said in his press statement.

The Indonesian leader did not specifically address Vietnamese agricultural products. However, Jokowi said both leaders had agreed on bolstering cooperation on food security, particularly on agriculture and fishery.

"The signing of the memorandum of understanding on fishery marks a huge momentum to spur collaboration and investment in this field," Jokowi said.

Government data shows Indonesia-Vietnam trade totaled $13.3 billion in 2022. The two-way trade gave Indonesia a surplus of $3.7 billion.

Bilateral trade reached $11.7 billion in January-November 2023, registering a $2.1 billion surplus for Indonesia. In 2022, Jokowi and then Vietnamese President Nguyen Xuan Phuc agreed to work towards achieving $15 billion in bilateral trade by 2028.

- Jakarta Globe