VINACHEM

DA NANG — Indonesia is seeking opportunities to boost its all-round cooperation with Viet Nam, particularly the economic sector, said Indonesian ambassador Pitono Purnomo at an informal working dinner held in central Da Nang City on Monday.

Pitono, who has been on a visit to Da Nang, said that Indonesia had put emphasis on the development of investment and trade in the country, while exploring more co-operation opportunities with Vietnamese businesses.

He said that with progressing diplomatic relations, Indonesia's exports to Viet Nam had expanded 31.5 per cent between 2004 and 2008, and its imports from the country had grown 21 per cent.

Bilateral trade value last year reached US$2.4 billion, up 1.7 per cent over the figure in 2007. Indonesia's export staples to Viet Nam include parts of accessories of motor vehicles, natural rubbers, paper and paper board, refine copper and copper alloys, and palms oil and its fractions. Viet Nam mainly exports rice; coffee, wheat, cruise ships, ferry boat, cargo ship; heterocyclic compound with oxygen heteroatom and automatic data processing machines to Indonesia.

Indonesia has 22 investment projects in Viet Nam with total capital of around $198 million, while Viet Nam has three projects in Indonesia with a total investment value of about $21 million.

"These figures, I believe, do not reflect the enormous potentials our two countries can offer to our businesses," said Pitono.

Pitono said the Indonesian economy was anticipated to grow about 4.7 per cent this year, and private consumption and investments would play a key role for the country to achieve this goal amidst the faltering global economy.

"One of the tasks we are looking at is to enhance our economic relations, especially with countries believed to play a strategic role in the future of the regional economic landscape," he said. "One of these countries is Viet Nam."

The ambassador noted that closer economic co-operation among ASEAN member countries in general, and Viet Nam-Indonesia bilateral co-operation in particular, were important, as the bloc was set to become an economic community by 2015.

Further co-operation with the business community in Da Nang would be an important part of Indonesia's programme to boost ties with Viet Nam, said Pitono.

"What impressed us upon our visit to Da Nang is its rapid, dynamic and integrated growth, which is turning the city into an expanding economic hub and a significant entrepot in the East-West Economic Corridor."

He said that opportunities for co-operation with the city could be seen in areas including import-export, sea-based sectors, maritime transport and cultural and tourism promotions.

He said that the embassy would create good conditions for Vietnamese enterprises that were planning on dealing with Indonesian companies.

Da Nang Foreign Affairs Department director Luong Minh Sam greatly appreciated Pitono's suggestions for co-operation, noting that the lack of information still remained a hindrance to the two sides' economic links.

Nguyen Cuong, director of the Viet Nam Chamber of Commerce and Industry's Da Nang Branch, suggested that transportation and payment systems should be further improved to facilitate foreign trade activities.

(Source: VNS)