Vietnam, Thailand Strike for USD 25 Billion in Trade Turnover Soon

Prime Minister Pham Minh Chinh on October 25 suggested Vietnam and Thailand elevate their strategic partnership to a new height, at a reception for Thai Deputy Prime Minister and Foreign Minister Parnpree Bahiddha-Nukara, who is on an official visit to Vietnam from October 25-26, VNA reported.

Chinh acknowledged Parnpree's selection of Vietnam for his first overseas trip after his appointment as Deputy PM and FM of Thailand, saying he believes that the visit will contribute to deepening of the strategic partnership.

The PM conveyed regards from Party General Secretary Nguyen Phu Trong, President Vo Van Thuong, and National Assembly Chairman Vuong Dinh Hue to the King, the PM and other senior leaders of Thailand.

Prime Minister Pham Minh Chinh (R) receives Thai Deputy Prime Minister and Foreign Minister Parnpree Bahiddha-Nukara. Photo: VNA

Parnpree commended Vietnam’s socio-economic achievements and emphasised that ample room remains for the two countries to strengthen their cooperation. He also affirmed that Vietnam is one of Thailand's leading important partners in the region.

Chinh suggested the two countries increase delegation exchanges at all levels and in all the Party, State, Government and legislature channels, and effectively materialise bilateral cooperation mechanisms, especially joint cabinet meetings chaired by the two PMs.

In that spirit, the PM reiterated the invitation to his Thai counterpart to pay an official visit to Vietnam in 2024, during which they will co-chair the 4th Vietnam-Thailand Joint Cabinet Meeting.

He also suggested the two sides maintain meetings of the joint committee on bilateral cooperation, further materialise the action programme implementing the Vietnam - Thailand Enhanced Strategic Partnership for 2022 – 2027, promote trade development and investment expansion, effectively put in place the "Three Connections" initiative that covers supply chain, economies, businesses and localities, and cooperate in new fields such as digital transformation and green energy.

The PM noted that Thailand remains Vietnam's largest trade partner in ASEAN and the 9th largest foreign investor, saying the two countries should strive to soon bring bilateral trade turnover to USD 25 billion in a more balanced fashion, limit trade barriers and further facilitate goods import and export activities.

He called on the Thai government to create more favorable conditions for the Vietnamese community to work, live and study there, and lauded efforts in increasing direct flights between the two countries to facilitate economic, cultural and tourism cooperation, and people-to-people exchange.

Shairng Chinh’s views, Parnpree said Thai businesses are confident in potential and investment environment in Vietnam, and want expand investment in the country.

He called on the Vietnamese government to further support Thai investors in implementing projects in Vietnamese localities, including those on energy, and pledged that the Thai Government will back foreign businesses, including Vietnamese firms, to expand investment in the country.

Thailand will maintain its close coordination with Vietnam at multilateral and regional mechanisms, including Mekong sub-region development cooperation, and the sustainable management and use of the Mekong River water resources, he said, adding that Thailand will also continue to work with Vietnam and other ASEAN countries to promote the grouping’s solidarity, centrality and viewpoints, particularly in important matters like the East Sea issue.

Vietnamese Minister of Foreign Affairs Bui Thanh Son (R) and Thai Deputy Prime Minister and Minister of Foreign Affairs Parnpree Bahiddha-Nukara at the talks in Hanoi on October 26. Photo: VNA

On October 26, Vietnamese Minister of Foreign Affairs Bui Thanh Son and Thai Deputy Prime Minister and Minister of Foreign Affairs Parnpree Bahiddha-Nukara agreed to work to elevate their countries’ strategic partnership to a new height.

Both host and guest discussed orientations for coordinating closely with both countries’ relevant ministries and sectors to promote the effective implementation of important cooperation areas based on the action plan for carrying out the enhanced strategic partnership for 2022 - 2027.

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