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Minister seeks to bolster Indonesia-Vietnam economic cooperation

by swotverge

Jakarta (ANTARA) – Cooperatives and Small and Medium Enterprises (SMEs) Minister Teten Masduki is making a working go to to Vietnam on March 21–22, 2024, to bolster financial cooperation between the 2 nations.

Particularly, he’ll pursue stronger cooperation within the micro, small, and medium enterprises (MSMEs), cooperatives, and meals manufacturing sectors.

“As fellow ASEAN international locations, Indonesia and Vietnam have comparatively comparable financial potential so they should work collectively to construct collaboration to bolster the 2 international locations’ home benefits,” he mentioned in a press launch issued by his ministry right here on Thursday.

As a part of his go to, Masduki met with a number of officers in Khanh Hoa province, specifically the secretary of the Khanh Hoa Provincial Celebration Committee, Nguyen Hai Ninh, and the chairperson of the Khanh Hoa Provincial Folks’s Committee, Nguyen Tan Tuan.

The minister mentioned that the potential of the 2 international locations could possibly be optimized by means of collaboration on growing meals manufacturing and downstreaming, involving cooperatives and MSMEs, together with by means of the event of the digital agricultural ecosystem.

Furthermore, the ASEAN area has nice potential in agriculture and fisheries. That is mirrored in knowledge from the Meals and Agriculture Group (FAO) of the UN, as per which, ASEAN contributed 16.4 p.c to the world’s whole fish manufacturing in 2022.

That might be equal to 33.7 million tons of the overall 205.6 million tons of worldwide fish manufacturing.

The FAO knowledge has additionally proven that greater than a fifth, or 181.4 million tons, of the worldwide rice manufacturing of 793.7 million tons in 2023 got here from ASEAN international locations.

Masduki famous that cooperation additionally must be strengthened in analysis and growth in agriculture and fisheries to enhance the standard and competitiveness of cooperative and MSME merchandise within the world market.

“It’s also important to extend cooperation in growing enterprise fashions and partnerships for provide chains of fisheries and agriculture in ASEAN,” he added.

He additional mentioned that the strengthening of cooperation will end in an enlargement of high quality jobs for the 2 international locations. No less than 27.02 p.c of the overall workforce in ASEAN works within the agriculture, fishery, and forestry sectors, as per ASEAN Secretariat knowledge from 2023.

High quality jobs are thought-about important for growing the participation of the youthful era in these sectors.

In line with the ASEAN Secretariat (2022), ASEAN has 224.2 million younger individuals. Fifty-three p.c of them belong to Technology Z (15–25 age group) and 47 p.c are Millennials (26–35 age group).

The minister famous that Indonesia is presently specializing in growing a number of downstreaming initiatives, as an example, for agriculture, fisheries, animal husbandry, and cooperative-based plantation merchandise.

Associated information: OJK helps strengthening MSMEs to enhance native economic system

Associated information: Anticipate world-class leather-based merchandise to emerge from Garut: minister

Translator: Shofi Ayudiana, Raka Adji
Editor: Aditya Eko Sigit Wicaksono
Copyright © ANTARA 2024

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