Addressing the function, Le Ton Thanh, chairman of the branch, noted that traditional relations between Vietnam and Indonesia have constantly developed over the years. Both countries have established a strategic partnership in June 2013, creating plenty of opportunity for bilateral cooperation.
Indonesia is one of HCM City’s investment and trade partners. Two-way trade hit more than US$1 billion in 2012. Currently, Indonesia has 12 investment projects in HCM City with combined capital of more than US$26 million.
Tri Surya, acting consul general of Indonesia, said two-way trade between Indonesia and Vietnam has increased 10fold during the past decade, reaching US$4.8 billion in 2012. The figure is expected to rise to US$5 billion in 2015 and US$10 billion in 2018.
He said Indonesia and Vietnam have increased cooperation in all realms, especially in economics, trade, investment and tourism, over the past 10 years. About 30 Indonesian companies have operated in Vietnam with 39 projects capitalised at US$650 million.
Indonesia mainly imports rice, mobile phones, steel, crude oil, coffee, automobile spare parts, and garments from Vietnam. It exports paper, vegetable oil, machinery, equipment, computers, chemicals, electronics and spare parts to its neighbour.