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NEWS UPDATES Asean Affairs    August  16,  2017  

Indonesia told to invest in Vietnam to boost trade

Trade Minister Enggartiasto "Enggar" Lukita has urged Indonesian businesspeople to cooperate with Vietnam to boost trade and investment, instead of competing with the country.

The cooperation includes investing in Vietnam to sell more products to countries that Vietnam has free trade agreements (FTA) with, said the ministry at the sixth Indonesia-Vietnam Joint Commission on Economics, Scientific and Technological Cooperation (JC-ESTC) in Hanoi over the weekend.

“We need to invest in Vietnam not only because it has 93.3 million people [third biggest country in terms of population in ASEAN], but also because of the other countries that have bilateral FTAs with Vietnam,” he said in a press release.
Read also: Vietnam targets 6.4 - 6.8% growth in 2018

Some Indonesian firms run businesses in Vietnam’s property, cement and coal sectors while Vietnamese firms are interested in Indonesia’s coal industry.

Indonesia has seen a trade deficit with Vietnam from 2012 to 2016 with the deepest deficit of US$966.5 million in 2014 before easing to $182.6 million, last year.

Total trade reached $6.2 billion last year, with Indonesia exporting $3 billion, dominated by copper, pepper, ground fruits, coconuts, coal, palm oil and its products.

In the first five months this year, nevertheless, Indonesia has managed to book a trade surplus of $5.1 million. (bbn)

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This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






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