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MEMORANDUM OF UNDERSTANDING
ON
COUNTER TRADE ARRANGEMENT
BETWEEN
THE MINISTRY OF INDUSTRY AND TRADE OF THE
REPUBLIC OF INDONES A
AND
THE MINISTRY OF TRADE OF THE SOCIALIST REPUBLIC
OF VIETNAM

H. E. Ms. Rini M.S. Soewandi, Minister of Industry and Trade of
the Republic of Indonesia, and H. E. Mr. Truong Dinh Tuyen, ｍｩｮ
ＮＺ ｾ ･ ｲ＠
of Trade of the Socialist Republic of Vietnam, hereinafter referred to
as "the Parties"·
I

Referring to the Trade Agreement between the Government of
the Republic of Indonesia and the Government of the Socialist
Republic of Vietnam, signed in Hanoi 23rd March, 1995;
Desiring to expand and accelerate trade relation between the

two countries, the Parties met in Hanoi on 26th June, 2003, to
discuss ways and means to enhance bilateral trade between two
countries;
Agreeing that other than normal trade under CEPT-AFTA,
counter trade would be a mutually supported way;
To this end hereby have agreed as follows:
1.

The Parties shall create favourable conditions for appropriate
compani s from each country to negotiate on counter trade.

2.

The arrangement would be accordance with relevant laws
a. td regulation of each country.

3.

The Parties agreed that the list of commodities for counter
trade arrangement would be stimulated by the participating

companies. In order to facilitate the counter trade between
the participating companies, however, the Parties shall set up

a list of commodities for reference and selection by the
participating companies.
4.

This Memorandum of Understanding would not undermine
other previous arrang0monts and Memorandum of
Understanding which have been concluded between the two
countries.

Done in duplicate in Hanoi on June 26, 2003.

Signed

c

0

RINI M.S. SOEWANDI
MINISTER OF INDUSTRY AND
TRADE

Signed

TRUONG DINH TUYEN
l'viiNISTER OF TRADE