Việt Nam and Thailand aim to boost bilateral trade to $25 billion

February 24, 2025 - 18:48
Both ministers welcomed the growing Việt Nam-Thailand Enhanced Strategic Partnership, which is expanding in a substantive and comprehensive manner based on mutual respect, trust and shared benefits.
Deputy Prime Minister and Minister of Foreign Affairs Bùi Thanh Sơn holds talks with Thai Minister of Foreign Affairs Maris Sangiampongsa on Monday. VNA/VNS Photos

HÀ NỘI — Việt Nam and Thailand have agreed to facilitate trade, expand market access and work to achieve a bilateral trade target of US$25 billion in the near future.

This commitment was made during talks between Deputy Prime Minister and Minister of Foreign Affairs Bùi Thanh Sơn and Thai Minister of Foreign Affairs Maris Sangiampongsa on Monday, as part of the Thai minister’s official visit to Việt Nam from Sunday to today.

Deputy PM and Minister Sơn emphasised the significance of the visit, which contributes to strengthening cooperation between the two countries and their foreign ministries, particularly as Việt Nam and Thailand prepare to celebrate 50 years of diplomatic relations in 2026.

Thai Minister Sangiampongsa said that Việt Nam remains one of Thailand’s most important partners in the region and expressed a strong desire to further enhance collaboration between the two foreign ministries.

Both ministers welcomed the growing Việt Nam-Thailand Enhanced Strategic Partnership, which is expanding in a substantive and comprehensive manner based on mutual respect, trust and shared benefits.

They agreed to work closely together to effectively implement key bilateral cooperation initiatives and elevate their partnership to new heights.

The two sides committed to enhancing high-level exchanges, effectively implementing bilateral cooperation mechanisms and deepening collaboration between their foreign ministries, including establishing specialised channels of communication to discuss shared concerns.

They also agreed to bolster bilateral defence and security cooperation, particularly in combatting transnational and cyber crimes and preventing fraudulent labour trafficking.

Both countries reaffirmed their commitment not to allow any individual or organisation to use their territory to undermine the other nation.

In the economic sphere, the two ministers agreed to minimise trade protectionist measures, promote cooperation in emerging fields such as the digital economy, e-commerce and green energy, and strengthen collaboration under Thailand’s 'Three Connections' strategy. This initiative focuses on supply chain integration, business and local-level connectivity and sustainable growth strategies.

They also pledged to optimise land and waterway transportation routes, increase the frequency of direct flights between Việt Nam and Thailand and explore measures to enhance tourism cooperation, including Thailand’s 'Six Countries, One Destination' initiative.

Furthermore, they emphasised education, agriculture, culture and people-to-people exchanges as key areas for increased collaboration.

Deputy PM and Minister Sơn thanked the Thai government for supporting the establishment of Vietnam Town in Udon Thani Province as well as a planned Vietnam Town in Nakhon Phanom Province.

He proposed further cooperation in preserving and promoting the President Hồ Chí Minh historical sites and Vietnamese pagodas in Thailand and actively implementing Thai and Vietnamese language education programmes in both countries. Additionally, both sides encouraged the development of partnerships and twinning relationships between Vietnamese and Thai provinces and cities.

Việt Nam and Thailand reaffirmed their commitment to working closely together in multilateral and regional forums, strengthening ASEAN unity and centrality and prioritising sustainable development in the Mekong subregion.

Both sides stressed the importance of maintaining peace, stability and maritime and aviation security in the East Sea (internationally known as the South China Sea) in accordance with international law, including the 1982 United Nations Convention on the Law of the Sea (UNCLOS 1982).

On the same day, Deputy PM and Minister Sơn and his wife, along with Thai Foreign Minister Sangiampongsa and his wife, visited the Thăng Long Imperial Citadel in Hà Nội. They enjoyed Vietnamese coffee and engaged in discussions on the cultural and culinary traditions of both nations. — VNS

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