Pangestu said the agreement would pave for boosting trade and investment between the two countries.

Hoang said Indonesia was one of Vietnam’s biggest Southeast Asian markets.

He said the link between the two countries would offer competitive products to not only each other but also other members of the Association of Southeast Asian Nations (ASEAN) as well as other Asian countries like Japan, South Korea and China.

Indonesia has invested around $170 million in Vietnam, mainly in property and coal mining, according to Hoang.

Reported by Minh Quang