Vietnam seeking deeper ties in economic field
JAKARTA - A business delegation from Vietnam led by Prime Minister Nguyen Tan Dung met Wednesday with Indonesian business leaders in Jakarta to seek deeper ties in the economic field by initiating a strategic partnership in various business sectors.
"I note with great satisfaction that in recent years the economic cooperation between the two countries has been developing very well," the prime minister said addressing business delegations from the two countries after meeting President Susilo Bambang Yudhoyono earlier in the morning.
However, the newly elected prime minister said that the already strong bilateral relations needed to be further promoted by taking advantage of the excellent relations between the two countries.
"Therefore, we agree to improve the Vietnam and Indonesia relationship through strategic partnerships, creating momentum for stronger promotion of bilateral friendship and cooperation," he said, referring to the outcome of his meeting with the president.
Accompanied by Trade Minister Mari Elka Pangestu and Culture and Tourism Minister Jero Wacik, Dung witnessed the signing of a joint action agreement between the Indonesian Chamber of Commerce and Industry (Kadin) and Vietnamese business chambers during a business forum.
During the meeting with President Yudhoyono, Dung also witnessed the signing of agreements on cooperation in the tourism and anticorruption fields.
Kadin chairman Mohammad S. Hidayat explained that under the joint action agreement, delegations from the two chambers would meet at least twice a year to identify opportunities in various business sectors that were suitable for partnerships between firms from the two countries.
Citing Trade Ministry figures, Hidayat said that total bilateral trade between the two countries amounted to about US$1.9 billion last year, which represented a 70 percent increase from the figure for 2005. Trade volume reached a total of $1.3 billion in the first semester of this year.
In terms of investment, according to Prime Minister Dung, Indonesia currently has 16 projects in Vietnam worth a total of over $140 million, making Indonesia the 29th biggest investor in the officially socialist country.
Hidayat said that apart from inviting Indonesian investors, the Vietnamese delegation was also seeking cooperation in various sectors, especially oil exploration.
State-owned oil and gas company Pertamina is scheduled to sign a joint venture agreement Thursday with Vietnam's state oil firm PetroVietnam and Malaysia's state-owned oil company for the joint exploration of hydrocarbon resources in the Randu Gunting block in East Java.
In addition, cooperation in telecommunications infrastructure in Vietnam would also be discussed by state-owned PT Telkom Indonesian International and Vietnam Post and Telecommunications Cooperation (VNPT).
By Andi Haswidi - The jakarta Post - August 10, 2007.
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