Vietnam, Thailand look towards US$ 25 billion bilateral trade target by 2025

Thani Thongphakdi, permanent secretary of the Ministry of Foreign Affairs of Thailand believes that with the strong commitment and efforts of both countries, Vietnam and Thailand will achieve US$ 25 billion bilateral trade target by 2025.

Vietnamese Deputy Foreign Minister Nguyen Quoc Dung attends the event

On August 26, the Vietnamese Embassy in Bangkok in collaboration with the Thai Embassy in Hanoi and the Diplomatic Academy of Vietnam co-organized a webinar to celebrate the 45th anniversary of Vietnam-Thailand diplomatic relations (1976 - 2021).

In his opening speech, Vietnamese Ambassador to Thailand Phan Chi Thanh highlighted the 45th anniversary as an important opportune occasion for the two countries to look back on their achievements and look to the future.

Thai Ambassador to Vietnam Nikorndej Balankura shared this statement and emphasized that the in-depth assessments of speakers at the seminar will make practical contributions to helping the two governments solidify the foundation of Vietnam-Thailand relationship in the time ahead.

Vietnamese Deputy Foreign Minister Nguyen Quoc Dung stated that the establishment of diplomatic relations between Vietnam and Thailand 45 years ago opened a new era in the friendship and multifaceted cooperation between the two countries, especially in the fields of politics - diplomacy, trade - investment, tourism, culture, and social affairs.

At multilateral forums, both nations have actively boosted their closer cooperation as a mean of strengthening the solidarity and central role of ASEAN. Most recently, their friendship has continued to be demonstrated through great efforts in responding to the COVID-19 pandemic, accessing vaccine sources, and aiming for socio-economic recovery after the pandemic.

Thani Thongphakdi, permanent secretary of the Ministry of Foreign Affairs of Thailand highly appreciated the unprecedented close connection between Thailand and Vietnam, with frequent dialogues and mutual visits being promoted  at all levels by senior leaders.

He also suggested the two countries consider building a partnership on three pillars: sustainable development, sustainable peace, and sustainable future.

On the multilateral level, Vietnam and Thailand have effectively cooperated in many regional and international mechanisms such as ASEAN, the Ayeyawady-Chao Phraya-Mekong Economic Cooperation Strategy  (ACMECS), the Asia-Pacific Economic Cooperation (APEC), the Asia-Europe Meeting (ASEM), and the United Nations.

On the economy, Thailand is one of the top 10 foreign investors in Vietnam, and also the largest trading partner of Vietnam in ASEAN.

Participants at the webinar

In addition, the two countries have always placed importance on cultural-educational cooperation and people-to-people exchanges through which the Vietnamese-Thai community in Thailand have made significant contributions fortifying bilateral relations.

Participants focused their discussion on recommendations to strengthen the strategic partnership between Vietnam and Thailand in the coming time.

Both nations should fully tap cooperation potential by intensifying exchanges at all levels, sharing  experience, offering mutual support in knowledge and technology transfer, stepping up cooperation in areas of each side's strengths.

Furthermore, the two countries can explore new cooperation opportunities, in line with the trend of the 4.0 industrial revolution such as technology start-ups, digital transformation, digital economy, innovation, supply chain re-establishment, research and production of COVID-19 vaccines , and green and sustainable development, they said.

Close coordination to promote joint initiatives at ACMECS mechanisms will help the two countries realize their benefits and contribute to the sustainable development of the Mekong sub-region and Southeast Asia.

On the East Sea issue, the participants underlined the need for both sides to work together to build mechanisms for resolving conflicts by peaceful means on the basis of respect for international law.

Vietnam-Thailand cooperation will continue to make effective contributions to enhancing the centrality and inner bloc solidarity among ASEAN members as well as to peace, stability and shared prosperity in the region.

The webinar serves as a forum to review the good friendship cooperation between the two countries over the past 45 years, and affirm both nations'  determination to deepen their strategic partnership moving forward.

VOV

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