Indonesia's state logistics agency BULOG has reached a deal with the Vietnam Food Association to purchase 200,000 tonnes of rice, officials announced at a seminar in Jakarta on September 23.

A Vietnamese delegation led by Deputy Minister of Industry and Trade Tran Tuan Anh attended the seminar held by the Indonesian Chamber of Commerce and Industry (KADIN).

The seminar offered an opportunity for Vietnamese businesses to get a better understanding of Indonesia’s market and governmental trade policies as well as meet with potential farm produce and rice cooperation partners.

Speaking at the seminar, Deputy Minister Anh said Indonesia is Vietnam’s fourth largest trade partner in South East Asia. In 2013, two-way trade turnover reached over US$4.8 billion, up 4.8% compared to 2012’s figure.

In the first eight months of 2014, the figure amounted to US$3.3 billion, up 13.4% over last year’s corresponding period.

Leaders  have agreed to elevate Vietnam-Indonesia relations to a strategic partnership, and bring two-way trade turnover to US$5 billion by 2015 and US$10 billion by 2018, Anh said.

At their earlier talks on September 22, Deputy Minister Tran Tuan Anh and his Indonesian counterpart Bayu Krisnamurthy emphasized the need to enhance bilateral cooperation in producing goods and joining the global supply chain and devising solutions to overcome the shortcomings.

They also concurred to fully tap each nation’s advantages and potential in the production and trade sector, with a focus on farm produce, seafood and rice.

VOV/VNN