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Viet Nam’s increasTrade surplus with Indonesia risesing volume of trade with Indonesia enjoyed a surplus of US$40 million in the first nine months of this year, according to the Viet Nam Embassy’s Trade Mission in Indonesia.

Of an estimated $3.3 billion traded in the reviewed period, Viet Nam’s exports totalled over $1.66 billion, a year-on-year rise of 5.43 per cent, while its imports, worth $1.62 billion, grew 1.15 per cent over the same period last year.

Among the Vietnamese exports recording the highest turnover in the Indonesian market were telephones and spare parts, steel, rice, crude oil and coffee.

Rice, which used to account for 50 per cent of Viet Nam’s export turnover to its ASEAN countries, bringing in a volume worth $616.3 million last year, has not been imported at all by Indonesia in 2012.

Viet Nam’s main imported items were paper, grease, cooking oil, electronic cable and wire, seafood, fruits, metal products, garments and others.

In addition to trade, the two countries agreed to foster bilateral co-operation in transportation, tourism, banking, construction, information and communication technology during the sixth meeting of the Vietnam-Indonesia Joint Commission on Economic, Scientific and Technological Co-operation held last month in Jakarta, Indonesia.

Both sides have emphasised the importance of encouraging the private sector to promote trade activities and agreed to boost co-operation on trade promotion in respective countries.

They have also encouraged co-operation in investment promotion through sharing information on foreign investment policy and environment, exchanging delegations to grasp investment opportunities in respective country, as well as training foreign investment management staff.

During the January-September period, Indonesian companies have pumped $220 million into 31 projects in Viet Nam. Indonesia curently ranks 30th among the 96 countries and territories investing here, according to the Ministry of Planning and Investment’s Foreign Investment Agency. — VNS

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