3:26:37 PM | 7/8/2005
The Indonesia-Vietnam Business Forum will be held in Ho Chi Minh City on April 28th, 2005 with the aim to search for new opportunities and potentials in boosting the bilateral trade between Indonesia and Vietnam.
It would also pave the way for enhanced relationship between the two Ministries of Trade, Indonesian Chamber of Commerce and Industry (KADIN) and Vietnam Chamber of Commerce and Industry (VCCI), as well as the two business circles.
KADIN consists of 18 big companies operating in the fields of fertilizers, transportation, finance & trading, soft drinks, medicine, cosmetics, shrimp, cocoa, coffee, fashion, paper & pulp, automotive, medical equipments, textile, and fashion.
In 2004, the two-way trade was valued at US$1.1 billion with surplus for Indonesia (US$662 million). Indonesian exports to Vietnam among others are petrol, fertilizer, steel, textile raw materials, chemical products, motorbike parts, auto kits, plastic materials, machinery equipments and spare parts, pharmaceutical products, etc. Meanwhile, Vietnamese exports turnover (with Indonesia) recorded at US$438 million covers crude oil, rice, groundnuts, fruit and vegetables, seafood, coffee, tea, rubber, footwear and garments, so on and so forth.
The two-way trade value between Indonesia and Vietnam is expected to reach US$1.5 billion in 2005. Furthermore, it is noteworthy that Vietnam is regarded as a big trade partner for Indonesia. According to the Indonesian foreign trade statistics 2003, Vietnam ranks 21st with the share of 0.77 per cent of the total export (by country of destination) and 17th (by country of origin) with the share of 1.28 per cent of the total import respectively.
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