Indonesian embassy promotes palm oil, paper trade with Vietnam

14:47 | 28/07/2017 Trade

The Indonesian Embassy in Vietnam held a seminar in Hanoi on July 26 with the aim of linking the two countries’ businesses in the trade of palm oil and paper.

Indonesia is the world top exporter of palm oil

Addressing the event, Ambassador Ibnu Hadi said that the relations between Vietnam and Indonesia have been growing. In 2016, two-way trade reached 5.6 billion USD, he noted, added that the two sides agreed to lift up the figure to 10 billion USD in 2018.

Vietnam mostly exported to Indonesia telephones, iron, steel, machineries, equipment, rice, computer, electronics and spare parts, garment, leather and footwear materials, vehicles, plastics and plastic material.

The ambassador said that last year, paper was the third largest goods that Indonesia exported to Vietnam with revenue of 181 million USD, followed by animal and plant oil with 161 million USD.

In order to beef up the Vietnam-Indonesia cooperation, especially when the ASEAN Community has been formed and the region has experienced many significant changes, the two sides should increase the exchange of information and investment promotion as well as the connection among businesses, thus improving the competitiveness of ASEAN enterprises, he said.

Meanwhile, Pham Quoc Manh, public relations official of the Indonesian Embassy said that last year, Indonesia ranked 14th in the worth in terms of export of paper, mostly printing paper, with revenue of 3.2 billion USD.

Indonesia is also the world top exporter of palm oil as the country provides 36 million tonnes out of total 56 million tonnes exported by countries around the world, or 62 percent, he added.

At the event, Indonesian Embassy officials also shared information on cooperation opportunities in palm oil and paper trade with participating Vietnamese businesses.

Theo VNA