Saturday, September 26 2020


VN, Thailand target $20b in trade

Update: August, 18/2017 - 07:30
Prime Minister Nguyễn Xuân Phúc (right) and his Thai counterpart Prayut Chan-ocha review an honour guard in Bangkok during the former’s visit to Thailand. — VNA/VNS Photo Thống Nhất
Viet Nam News

HÀ NỘI — Prime Minister Nguyễn Xuân Phúc and Thai Prime Minister Prayut Chan-ocha agreed on Thursday that the two countries would strive to raise two-way trade to US$20 billion before 2020. Total bilateral trade volume last year reached $12.5 billion.

PM Phúc began a three-day visit to Thailand on Thursday.

The two Government leaders agreed to support each other in drawing investment and trade to their countries, easing access for their products in each other’s markets and promoting co-operation in rice production and trade.

Thai PM Prayut Chan-ocha pledged to encourage Thai businesses to increase investment in Việt Nam’s tourism, auxiliary industries, finance, banking, science and technology, agriculture and fisheries.

The two PMs remarked on the stable relationship between their countries in all fields, from security to economy and culture, especially since they established a strategic partnership in 2013. To further the relationship, they agreed to enhance all-level delegation exchanges and effectively implement co-operation mechanisms.

The two PMs stressed co-operation in security and national defence as one of the pillars of the bilateral strategic partnership, agreeing to increase exchanges of views and co-operation between their armed forces.

They reaffirmed their commitment to co-operate in combatting terrorism and crime; enhancing co-operation on maritime issues, and increasing co-operation and experience sharing to fight illegal fishing.

Transport links

The two sides agreed to promote multilateral transport linkage, including road, sea and air transport between the two countries, as well as in the sub-region. Plans include a bus route linking Thailand, Laos and Việt Nam; a transport route along the coast of Thailand, Cambodia and Việt Nam; and new air routes between Việt Nam and Thailand.

The two PMs also praised the growth and increasing strength of ASEAN and committed to continue co-operating closely with each other and with other ASEAN member countries to strengthen solidarity and promote the association’s central role in handling strategic regional issues.

PM Phúc praised Thailand, one of the founding countries of the grouping, for maintaining its active role in strategic security and development issues of the ASEAN Community. PM Chan-o-cha stressed the increasingly dynamic, proactive and responsible role of Việt Nam in ASEAN.

They reiterated the importance of maintaining peace, security and stability as well as navigation safety and freedom in the East Sea.

They stressed that parties concerned need to fully and efficiently implement the Declaration on the Conduct of Parties in the East Sea (DOC); build, preserve and improve mutual trust; respect the principles of self-restraint and ban the use of force; address differences and disputes by peaceful means in compliance with international law, including the 1982 UN Convention on the Law of the Sea.

The leaders also reaffirmed their support for the speedy drafting of a Code of Conduct in the East Sea (COC) as agreed between ASEAN and China.

The PMs witnessed the signing of an agreement on co-operation in science, technology and innovation, and memoranda of understanding between ministries and sectors pertaining to economy, trade, post, telecommunications, information technology and banking, as well as some agreements between localities and businesses. — VNS


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