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Viet Nam, Indonesia hold 5th meeting of Joint Commission on Bilateral Cooperation

VGP - Foreign Minister Bui Thanh Son and his Indonesian counterpart Retno Marsudi co-chaired the 5th meeting of the Viet Nam-Indonesia Joint Commission on Bilateral Cooperation in Ha Noi on April 24.

April 25, 2024 3:34 PM GMT+7
Viet Nam, Indonesia hold 5th meeting of Joint Commission on Bilateral Cooperation - Ảnh 1.

Foreign Minister Bui Thanh Son (R) and his Indonesian counterpart Retno Marsudi - Photo: VNA

Bui suggested that both sides create favorable conditions for their businesses to expand and diversify investments, particularly in new and promising fields such as green economy, circular economy, renewable energy, semiconductor industry, digital economy, electric vehicles and Halal cooperation.

Marsudi, for her part, reiterated that Indonesia always values and expects to further enhance its strategic partnership with Viet Nam.

Indonesian enterprises are increasingly interested in expanding their investments in Viet Nam, she noted.

The two ministers agreed to further facilitate all-level exchanges and meetings, effectively uphold existing cooperation mechanisms, expedite the completion of the action plan for the 2024-2028 period, contributing to fostering political trust and deepening bilateral cooperation in various fields, toward elevating bilateral relationship to new heights.

Indonesia is currently Viet Nam's third largest trading partner while Viet Nam is the fourth biggest trading partner of Indonesia in ASEAN. Two-way trade hit US$14 billion in 2023, and reached US$3.6 billion in the first quarter of 2024, up 20 percent annually.

Toward a two-way trade of US$18 billion by 2028, with a more balanced fashion, both sides pledged to encourage the early organization of a meeting of the Joint Commission on economic, scientific and technical cooperation, hold trade promotion activities and help firms access each other's markets.

Host and guest vowed to reinforce collaboration in national defense-security, fight against cross-border crimes, including cyber and human trafficking crimes. They also encouraged promoting air connectivity and increased cooperation in agriculture, aquaculture, education, tourism and people-to-people exchange.

On the global and regional issues of shared concern, including the East Sea and Myanmar issues, they promised to continue offering mutual support at multilateral and regional organizations and forums, such as the United Nations, ASEAN, and sub-regional cooperation.

The two sides concurred to maintain ASEAN's solidarity and agreed principles on the East Sea issue to ensure regional peace, stability and prosperity on the basis international law, including the 1982 United Nations Convention on the Law of the Sea (UNCLOS).

They also pledged to step up the full and effective implementation of the Declaration on the Conduct of Parties in the East Sea (DOC) and actively push for the early conclusion of a substantive and effective Code of Conduct in the East Sea (COC) that is in line with international law and the 1982 UNCLOS.

The sixth meeting of its kind is scheduled to be held in Indonesia in 2026./.