Thailand is the largest trade partner of Vietnam in ASEAN.
Vietnam and Thailand have set the trade target of US$25 billion by 2025 as part of efforts to boost economic ties between the two ASEAN member states.
Vietnam’s Prime Minister Pham Minh Chinh at the phone talk on May 12. Photo: Nhat Bac/VGP |
The target was further discussed at the phone talk between Vietnam’s Prime Minister Pham Minh Chinh and his Thai counterpart Prayut Chan-o-cha on May 12.
To make the goal attainable, the two PMs agreed to strengthen exchanges among ministers to timely tackle problems for both sides.
Vietnam’s PM affirmed to facilitate and encourage Thai investments in energy, tourism, hi-tech agriculture, supporting industries for automobile industry, and digitalization.
The two leaders discussed solutions for challenges facing in the Covid-19 pandemic, including recovery plans, traveling restrictions, and vaccine access.
Thailand's PM Prayut Chan-o-cha at the phone talk. Photo: Vietnam's MOFA |
For the missions in 2021, the two countries will celebrate the 45th anniversary of the bilateral relations, hold the 4th Joint Cabinet Retreat, and soon sign the implementation of the Plan of Action Implementing the Vietnam – Thailand Strategic Partnership for 2021-2025.
Currently, Thailand is Vietnam’s biggest trading partner in ASEAN and Vietnam is Thailand’s 4th largest exporting market, according to Vietnam’s Industry and Trade Magazine.
In 2020, the two-way trade hit US$15.88 billion, including US$10.96 billion worth of Vietnam’s imports.
Regarding investment, Thailand is one among nine top investors in Vietnam with total investment of US$12.8 billion in 603 projects in manufacturing, energy, real estate, agriculture, electronics, among others.
At a meeting with Vietnamese Ambassador to Thailand Phan Chi Thanh on March 22, 2021, Thai PM said both sides had vowed to intensify economic cooperation and trade partnerships, especially through existing bilateral mechanisms such as the Joint Trade Committee (JTC), with a focus on stepping up cooperation in areas where both are already strong, such as agriculture.
Other News
- Vietnam news in brief - May 19
- Vietnam celebrates Ho Chi Minh’s birthday
- Vietnam news in brief - May 18
- Six ideal destinations for green tourism in Vietnam
- Vietnam news in brief - May 16
- Opening of National Assembly session in five days' time
- Russia fully supports Vietnam's entry into BRICS: Ambassador
- Vietnam news in brief - May 15
- Deputy Foreign Minister pledges support for Vietnamese nationals in Warsaw
- Prime Minister Pham Minh Chinh encourages Chinese investment in green economy
Trending
-
Vietnam celebrates Ho Chi Minh’s birthday
-
Vietnam news in brief - May 19
-
Satisfaction for two, disappointment for many others
-
Vietnamese enterprises anticipate ASEAN common visa policy
-
Hanoi's 70th liberation anniversary literary and art contest launched
-
Japanese duo of illusionists to wow audiences in Vietnam
-
Walking tour to experience public arts in the heart of Hanoi
-
Propaganda poster contests launched for Hanoi’s 70th liberation anniversary
-
Bas-reliefs on Hue's nine dynastic urns listed as UNESCO heritage