Sanan Angubolkul, Chairman of the Thai Chamber of Commerce, speaks at the event. — VNA/VNS Photo Đỗ Sinh

BANGKOK — Thailand’s Ministry of Foreign Affairs and Chulalongkorn University have co-organised a seminar in Bangkok, discussing ways to step up Việt Nam-Thailand cooperation through their three-connection strategy.

The strategy, approved by Vietnamese and Thai leaders in November 2022 to propel forward the countries' socio-economic development, highlights the three connections between their supply chains (particularly regarding oil refinery, agriculture, and the production of machinery and electronic components), their businesses and localities, and their sustainable development strategies.

Addressing the seminar on September 26, Vietnamese Ambassador to Thailand Phạm Việt Hùng and the head of the Thai ministry’s department for East Asia Piyaphak Sricharoen stressed the importance of bilateral economic, trade, investment cooperation and of enhanced connectivity, including the three-connection strategy.

The already established links between the countries’ many industrial sectors and localities are conducive to the implementation of the strategy, Piyaphak said.

Meanwhile, Hùng proposed further promoting the participation of and coordination between the public, private sectors, and expert community. He expressed his hope for the early establishment of a joint working group between the two nations to discuss and carry out concrete measures aimed at advancing the strategy.

Sanan Angubolkul, Chairman of the Thai Chamber of Commerce, said Việt Nam holds several advantages over Thailand, such as a young population structure, political stability, a strong anti-corruption drive, and numerous free trade agreements (FTAs) signed. He also suggested that Thai businesses seize the opportunity of Việt Nam's low production costs, particularly in the food processing sector, adopt appropriate business models and comply to Việt Nam’s laws and policies.

Thong Kulthanwat, President of the Thai-Việt Nam Business Association, pointed out that a major challenge currently facing northeastern Thailand (bordering Laos and close to Việt Nam) is transport infrastructure. Thai goods shipped to Việt Nam incur transit costs through Laos, and there is no direct flight from Việt Nam to the region. Therefore, Thong held that to implement the strategy, it is necessary to improve transport infrastructure connectivity, not only among Thailand, Laos, and Việt Nam but also among Thailand, Laos, and Cambodia. — VNS