Indonesia and Viet Nam have signed a five-year action plan to implement their comprehensive strategic partnership, reaffirming their commitment to deepening cooperation in trade, security, and emerging industries.

Speaking after a bilateral meeting with Vietnamese Deputy Prime Minister and Foreign Minister Le Hoai Trung in Jakarta, Indonesian Foreign Minister Sugiono said the plan would serve as the main framework for bilateral cooperation over the next five years.

Indonesia and Viet Nam elevated their ties to a comprehensive strategic partnership last year. The two countries also signed an agreement on their Exclusive Economic Zone (EEZ).

Sugiono said both governments welcomed progress in implementing the EEZ agreement and reaffirmed their commitment to strengthening defense and maritime security cooperation, including efforts to combat illegal, unreported, and unregulated (IUU) fishing, narcotics trafficking, and other transnational crimes.

On the economic front, the ministers reaffirmed their target of increasing bilateral trade to $18 billion (Rp 325 trillion) by 2028. Bilateral trade reached $16.76 billion in 2025, with Indonesia recording a $4.47 billion trade surplus, making Viet Nam Indonesia's fifth-largest source of trade surplus after the United States, India, the Philippines, and the Netherlands.

Sugiono said both countries would work to remove barriers to trade and investment while ensuring previously signed agreements translate into concrete projects.

Indonesia has invested around $700 million in Viet Nam, while Vietnamese electric vehicle maker VinFast recently broke ground on an EV manufacturing plant in Subang, West Java, underscoring growing two-way investment.

The ministers also identified opportunities for closer collaboration in agriculture, science and technology, supply chains, electric vehicle technology, and the digital economy.

Sugiono said Indonesia and Viet Nam, two of Southeast Asia's fastest-growing economies, should leverage their complementary strengths to drive innovation and shared prosperity rather than compete with one another.

The ministers also exchanged views on regional and global developments, emphasizing the importance of ASEAN unity and centrality in maintaining peace and stability in the region. They expressed hope that the new action plan would translate the upgraded partnership into tangible cooperation over the next five years.

Source: Jakartaglobe

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