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Vietnam and Indonesia Aim for $18 Billion in Bilateral Trade by 2028

Eugenio Rodolfo Sanabria Reporter / Updated : 2025-03-12 16:37:38
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Jakarta, Indonesia – Vietnam and Indonesia have solidified their commitment to deepen their strategic partnership, setting an ambitious target to elevate bilateral trade to $18 billion by 2028. This pledge was made during a pivotal meeting between Tô Lâm, General Secretary of the Communist Party of Vietnam, and Puan Maharani, Speaker of the People's Representative Council of Indonesia, held in Jakarta.   

The meeting, which coincided with the 70th anniversary of diplomatic relations between the two nations, underscored the robust and evolving nature of their partnership. Maharani lauded Vietnam's remarkable journey of independence and its socio-economic advancements under the Đổi Mới (Renovation) policy. She also acknowledged the recent elevation of their ties to a comprehensive strategic partnership, emphasizing Indonesia's dedication to broadening cooperation across various sectors.   

Tô Lâm reciprocated, praising Indonesia's developmental strides and expressing confidence in its continued success. He highlighted the pivotal roles both countries play within the Association of Southeast Asian Nations (ASEAN), identifying them as reliable allies with convergent interests and visions.

A key focus of the discussion was the strategic roadmap to achieve the $18 billion trade goal within the next three years. This initiative will involve intensified economic and trade collaboration, streamlined trade exchanges, the dismantling of tariff barriers, and strategic investments in key industries.   

The leaders also stressed the importance of expanding cooperation in diverse areas, including technological innovation and sustainable development, to ensure mutual growth and prosperity.   

Maharani emphasized the crucial role of the People's Representative Council in fostering strong bilateral relations, advocating for enhanced people-to-people exchanges and inter-party dialogue.   

Both sides committed to strengthening parliamentary cooperation through regular high-level exchanges, parliamentary friendship groups, and the sharing of legislative best practices.   

Tô Lâm expressed optimism about the continued role of legislative bodies in enhancing multifaceted cooperation and called for closer collaboration in regional and international parliamentary forums.   

Vietnam and Indonesia also agreed to improve information sharing and enhance cooperation in international and regional forums, particularly within ASEAN, to address common challenges and promote regional stability.   

Their commitment to multilateralism and the strengthening of ASEAN was a recurring theme, with both leaders pledging mutual support in international arenas to foster a peaceful and prosperous region.   

Tô Lâm extended an invitation to Maharani to visit Vietnam, which she accepted, signaling a continued commitment to strengthening bilateral ties.

This visit marks a significant milestone in Vietnam-Indonesia relations, reinforcing their strategic alliance and paving the way for expanded trade and cooperation. With a shared vision for growth and stability, both nations are set to play increasingly vital roles in Southeast Asia and beyond.

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Eugenio Rodolfo Sanabria Reporter
Eugenio Rodolfo Sanabria Reporter

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