Vietnam, Indonesia to increase bilateral trade turnover

Vietnam and Indonesia strive for US$10 billion trade turnover by 2018, said Indonesian Consul General to Ho Chi Minh City Jean Anes at a meeting hosted to connect Vietnamese and Indonesian businesses on Tuesday.

He said the target feasible because the two countries have been positive members of the ASEAN Economic Community which is scheduled to establish this year.

The two governments have attempted to reduce tariff barriers and create advantageous trading and investment environment for goods and services from the two countries.

At the meeting, Indonesian firms expressed their plans for investment activities, trade, services and export import fields in Vietnam.

Deputy Head of the Indonesia Investment Coordinating Board Farah Ratnadewi Indriani introduced fields that the Indonesian Government has called for investors. They comprise industries making substitutes for import goods, infrastructures, tourism, agriculture, seaport and mining.

The Indonesian Government has implemented many assistance polices to foreign investors such as 5-15 year tax exemption.

Vietnam-Indonesia trade turnover reached US$3.5 billion for the first nine months this year, up 6 percent over the same period last year.

By Ai Van – Translated by Hai Mien

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