Vietnam, Indonesia agree on EEZ boundaries

Following a meeting between President Nguyen Xuan Phuc and his Indonesian counterpart Joko Widodo on Thursday, the two leaders announced that EEZ negotiations had been completed and an agreement had been made in accordance with international law, including the United Nations Convention on the Law of the Sea, according to the Ministry of Foreign Affairs.

Both leaders agreed that trade cooperation between the two countries made significant strides this year as bilateral trade turnover in the first 11 months climbed to nearly US$12 billion, the highest point ever reached by the two nations.

Both countries have agreed to a goal of increasing their annual bilateral trade turnover to $15 billion before 2028.

Phuc has also asked President Widodo to consider lessening trade obstacles for Vietnamese exports to the island nation.

Both leaders have agreed to provide opportunities for businesses to diversify cooperation by investing in each other's digital economies and sustainable energy sectors. They also agreed to bolster cooperation in other fields such as defense, security, tourism and education.

Phuc is on an official state visit to Indonesia from Wednesday to Friday.

Vietnam and Indonesia became strategic partners in 2013.

Indonesia is Vietnam's third largest trade partner in ASEAN, while Vietnam is Indonesia's fourth largest trade partner in the Southeast Asian bloc.