Indonesia

Vietnam and Indonesia Trade Relations

Indonesia

The overall situation

10 years after Vietnam and Indonesia upgraded their Strategic Partnership relationship, both sides have witnessed significant positive growth.

Specifically, in the first four months of 2023, Vietnam recorded bilateral trade turnover exceeding $4.2 billion with Indonesia. Notably, the export volume to Indonesia reached $1.6 billion, a 9% increase compared to the same period in 2022. It is expected that the total bilateral trade turnover between the two countries in 2023 will soon achieve the set target.

Update: 26/9/2023 / Source: VOV.VN

The state of trade relations

In addition to bilateral cooperation, the two countries have also closely cooperated and supported each other within the framework of multilateral economic cooperation such as ASEAN, RCEP, APEC, WTO.

In the Southeast Asian region, Indonesia is Vietnam’s third-largest trading partner. Some of the main goods traded between the two countries include rice, various types of iron and steel, automobiles, transportation vehicles and spare parts, textiles, and garments…

Update: 26/9/2023 / Source: Vietnamplus.vn

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Types Of Shipping Modes

The types of Shipping modes between Vietnam and Indonesia include:

By sea
  • Full Container Load (FCL) shipment
  • Less-than-container Load (LCL) shipment

DELIVERY TIME

Shipping time ranges from 5 – 11 days, depending on the departure and destination ports. You can refer to some routes below:

  • HCM – JKT: 6 days
  • HCM – SRG: 5 days
  • HCM – SUB: 11 days
  • HPH – JKT: 9 days
By air
  • Air charter shipment
  • Express

DELIVERY TIME

Shipping time ranges from 1 – 3 days, depending on the type of shipping service.

Requirements for importing into Indonesia

Label and packaging requirements
  • It is mandatory to use labels in Bahasa Indonesia
  • The product is registered with the Food and Drug Control Agency and has been issued an ML code
  • Complete information regarding the origin (Importer or Manufacturer) is provided
  • It must have a certificate from the Indonesian Council of Ulama if it is a Halal product
Requirements for taxes and customs fees
  • Import Duty = Customs Duty Tariff x CIF
  • Value Added Tax (VAT) = 10% x [CIF Value plus import duty]
  • Article 22 Income Tax = Tariff x [CIF plus import duty] the tariff of 2.5%, 7.5% & 10% depending on the kind of goods
Requirements for fresh food
  • Prior Notice must be submitted.
  • A Certificate of Analysis (COA) from one of the 10 Vietnamese testing laboratories recognized by Indonesia is required
Warehouse cost requirements
  • Indonesia applies daily charges for goods being stored in customs whilst the PIB application is being created and approved.