President attends Vietnam-Thailand High-Level Business Meeting

President Nguyen Xuan Phuc has described businesses as "heroes" in the economic sector, who will bring trade revenue between Vietnam and Thailand to US$30 billion by 2025.

Addressing the Vietnam-Thailand High-Level Business Meeting on November 17 as part of his trip to Thailand, President Phuc stressed that Vietnam and Thailand have been strategic partners of each other, and they have provided mutual support at all bilateral, regional and international levels.

He urged enterprises of the two countries to enhance cooperation and exchange experience in the areas they have potential and interests such as digital economy, energy and food security, and green, sustainable development.

Noting the announcement of the connection of retail payments using QR codes between Vietnam and Thailand, the State leader called it a vivid demonstration of the effective cooperation between management agencies, businesses and commercial banks in the two countries, and expressed his hope that it will contribute to boosting the bilateral trade and tourism ties.

Over the past 30 years, especially the past decade, Thailand has remained one of the biggest trade partners of Vietnam, he said, stressing that during his visit, Vietnamese and Thai leaders have agreed to raise the bilateral trade to US$25-30 billion by 2025.

He highlighted the important role of businesses, especially the outstanding firms that have made significant contributions to the bilateral economic and trade relations, in realising the target.

In his remarks, Thai Finance Minister Arkhom Termpittayapaisith noted with pleasure the outcomes of cooperation between the two countries, particularly cooperation orientations outlined during President Phuc’s official visit to Thailand.

The minister expressed his special interest in cooperation between the public and private sectors in each country.

At the meeting, President Phuc witnessed the debut of the QR code payment service connection between Vietnam and Thailand.

On this occasion, the Federation of Thai Industries (FTI) of Chonburi province signed a memorandum of understanding (MoU) with Invest Global, which covers trade and investment promotion activities.

Vietnamese and Thai competent agencies also supported businesses of the two countries to exchange and expand new fields of cooperation, instead of traditional fields, such as energy, high technology, renewable technology, environment and finance - banking.

The meeting brought together nearly 350 Vietnamese and Thai businesses.

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