Indonesian, Vietnamese presidents agree to boost economic cooperation

Indonesia and Vietnam agreed to step up cooperation on energy, trade, maritime and other sectors, Indonesian President Yudhoyono and his visiting Vietnamese counterpart Truong Tan Sang said at the State Palace here on Thursday.

The two countries are expected to double the trade volume by 2018 to 10 billion U.S. dollars from the target of 2015. Last year the trade volume of the two countries was 4.8 billion U.S. dollars, said Yudhoyono.

The two countries also agreed to increase investment cooperation. Many Indonesian firms insisted to invest in Vietnam, particularly in infrastructure and energy, Yudhoyono said.

"On energy we agreed to strengthen cooperation, including in building steam-powered power-plant and supplying coal in projects in Vietnam," said Yudhoyono.

The Vietnamese president is to visit Hero Cemetery of Kalibata in Jakarta and meet with the Indonesian parliament on Friday and leave for Hanoi on Friday evening.