JAKARTA, July 14 (Xinhua) -- Indonesian Foreign Minister Sugiono and his Vietnamese counterpart Le Hoai Trung signed a memorandum of understanding (MoU) on Tuesday to strengthen bilateral trade and investment cooperation.
The agreement was signed on the sidelines of the sixth meeting of the Joint Commission for Bilateral Cooperation in Jakarta.
"Regarding economic cooperation, we reaffirmed our commitment to achieving the bilateral trade target of 18 billion U.S. dollars by 2028," Sugiono said at a joint press conference.
The two countries agreed to expand two-way trade and investment, reduce trade barriers and strengthen engagement between their business communities to help meet the target.
The memorandum also covers closer cooperation in agriculture, science and technology, electric vehicle supply chains, the digital economy, maritime affairs and security.
Le Hoai Trung expressed confidence that the bilateral trade target of 18 billion dollars by 2028 could be achieved or even exceeded, supported by continued growth in trade between the two countries. ■