Vietnam, Thailand affirm closer partnership in joint statement

Following is the full text of joint statement

Joint Statement 
On the Official Visit of His Excellency Mr. Nguyen Xuan Phuc, President of the Socialist Republic of Vietnam, to the Kingdom of Thailand
16 November 2022, Bangkok

Celebrating Ten Years of Vietnam - Thailand Strategic Partnership:
Opening a New Chapter of Stronger Strategic Partnership for Peace, Stability and Mutual Prosperity

1. At the invitation of His Excellency General (Ret.) Prayut Chan-o-cha, Prime Minister of the Kingdom of Thailand, His Excellency Mr. Nguyen Xuan Phuc, President of the Socialist Republic of Vietnam, and Madam Tran Nguyet Thu, paid an Official Visit to Thailand on 16 November 2022 prior to attending the Asia - Pacific Economic Cooperation (APEC) Economic Leaders’ Meeting in Bangkok. As the first Official Visit to Thailand by the President of the Socialist Republic of Vietnam in 24 years, this event marked a historic milestone in the ever closer relations between the two countries.

2. President Phuc attended a welcoming ceremony, a bilateral meeting with Prime Minister Prayut and a dinner hosted by the Thai Prime Minister in honour of the Vietnamese President at the Government House. During his stay in Thailand, President Phuc also has some other engagements with Thailand's Leaders and business circles of the two countries.

3. The two leaders held wide-ranging discussions on bilateral, regional and international issues of mutual interest in an atmosphere of trust, sincerity and cordiality. Taking into account adverse impacts on developing countries from ongoing geopolitical challenges, both leaders expressed their determination to strengthen Thailand - Vietnam relations in all areas, including security, trade, investment, sustainable development and people-to-people relations in order to reduce impacts from such external factors.

As two major economies of Southeast Asia with immense potentials, Thailand and Vietnam will also synergise their strengths and economic cooperation to achieve a strong, sustainable and resilient recovery from the COVID-19 situation in both countries. Such efforts will accelerate economic integration of the broader Mekong Sub-region, and propel growth and development of this Sub-region at the heart of East Asia.

As two active and constructive players in regional and international affairs, Thailand and Vietnam will further enhance coordination and partnership to promote peace, stability and development in the Mekong Sub-region, ASEAN and the broader region.

4. The two leaders were pleased that both countries have continued to maintain regular consultations and visits at all levels to move forward bilateral cooperation, despite challenges posed by the COVID-19 pandemic during the past years. They noted in particular the successful convening of the 4th Joint Commission on Bilateral Cooperation (JCBC) in 2021, the 4th Joint Trade Committee (JTC) in 2022, and the 2nd Thailand - Vietnam Energy Forum (TVEF) in 2022 in Thailand. 

5. Both leaders were pleased with robust developments and upward trajectory of Thailand – Vietnam relations and welcomed the commemoration of the tenth anniversary of Strategic Partnership between the two countries in 2023. The two leaders expressed confidence in great potentials for further development of this Strategic Partnership and agreed to open a new chapter of a stronger Strategic Partnership for peace, stability and mutual prosperity. In this context, the two leaders witnessed the signing of the Plan of Action on Implementing the Thailand - Vietnam Strengthened Strategic Partnership 2022 - 2027, which will guide the Strategic Partnership between the two countries into the next decade.

The two leaders also witnessed the signing of a series of documents. (List of documents shown in Annex)

Advancing Partnership for Peace and Stability

6. The two leaders were pleased with the close bilateral cooperation on security and defence matters, which further reinforced the strategic trust between the two countries on the basis of mutual trust, mutual respect and mutual interests. They tasked relevant agencies of both countries to intensify practical cooperation on security and defence issues of mutual interest and concern. They also reaffirmed the commitment not to allow any individual or organisation to use the territory of one country to conduct activities against the other.

7. The two leaders welcomed plans to hold high-level dialogues and consultations to further deepen political and security cooperation at all levels, including the 4th Joint Cabinet Retreat (JCR) in the latter half of 2023, the 4th Defence Policy Dialogue on 17 November 2022, the 12th Joint Working Group on Political and Security Cooperation (JWG on PSC) in the first quarter of 2023, the 2nd Security Dialogue between the Royal Thai Police and Vietnam’s Ministry of Public Security in Vietnam, tentatively in December 2022 and the 1st Vietnam Coast Guard and friends exchange program in December 2022.

Strengthening Partnership for Sustainable and Resilient Recovery and Growth

8. The two leaders welcomed continued growth in bilateral trade, despite the impacts from COVID-19 pandemic and the ongoing global challenges. Thailand is currently the largest trading partner of Vietnam in ASEAN, while Vietnam is the second largest trading partner of Thailand in ASEAN. Both leaders were pleased that the two-way trade has continued to grow and is now on track to achieve the bilateral trade target set at US$25 billion by 2025. They also noted with satisfaction that the overall trend of bilateral trade is moving forward in a more balanced manner.

9. With a view to promoting greater trade and investment between the two countries, both leaders tasked relevant agencies to simplify import-export procedures; facilitate cross-border trade and transit of goods to third countries; address investment obstacles; and explore new areas of opportunities, especially digital economy and e-commerce.

10. The two leaders attached importance to promotion, facilitation and protection of investment in respective countries, and pledged to intensify cooperation to further increase two-way investment between Thailand and Vietnam. President Phuc welcomed the fact that Thailand is currently the eighth largest foreign investor in Vietnam with a combined value of over US$13 billion as of 2021. At the same time, Prime Minister Prayut welcomed the growing interest of Vietnamese investors in Thailand and expressed his hope to see more investment from Vietnam in Thailand in the near future.

11. The two leaders welcomed recent positive developments regarding Thai investment, including the establishment of the Thai Chamber of Commerce and Industry in Vietnam (ThaiCham) in December 2021; the opening of Export - Import Bank of Thailand’s (EXIM) representative office and Kasikorn Bank’s (KBANK) branch in Ho Chi Minh City; the granting of EXIM Bank’s credit lines to Joint Stock Commercial Bank for Investment and Development of VietNam (BIDV) worth US$100 million; the signing of the Bilateral Trade and Investment Facilitation Agreement between EXIM Bank and Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) with the targeted first year trade volume up to THB 10 billion (US$250 million); the announcement of Central Retail Group to invest US$790 million to expand its stores in Vietnam in the next four years; and the commissioning of the Siam Cement Group’s (SCG) Long Son Petrochemical Complex in Ba Ria – Vung Tau province in 2022. The two leaders were pleased with the successful launching of the Cross-border QR Payment Linkage between Thailand and Vietnam aimed at facilitating tourism and the use of local currencies, as well as promoting the digitalisation of both countries.

12. The two leaders expressed their firm commitment to further advance the Strengthened Strategic Partnership between Thailand and Vietnam which will contribute to socio-economic resilience of both countries through the “Three Connects” strategy, namely:

Connecting the two countries’ supply chains, especially in complementary and mutually beneficial industries, such as petrochemical, agriculture, machinery and electronic parts.

Connecting the two countries’ grassroots economies, especially the enhancement of direct business linkages and exchanges among Micro, Small and Medium Enterprises (MSMEs) and local entrepreneurs, with a view to promoting more cross-border economic activities at the local-to-local level.

Connecting sustainable growth strategies between Thailand’s Bio-Circular-Green (BCG) Economy Model and Vietnam’s Green Growth Strategy to enable the two countries to achieve the goal of low carbon and environmentally-friendly societies.

Deepening Partnership for Development and People-to-People Exchanges

13. The two leaders noted with satisfaction the progress made in technical and development cooperationand agreed to cooperate in water resources management in the Mekong Sub-region as well as work more closely towards achieving the Sustainable Development Goals (SDGs).

14. The two leaders appreciated the bilateral cooperation in the fields of culture, education, tourism and people-to-people exchanges has brought greater connectivity and deepened understanding between the peoples of the two countries. Both sides also acknowledged and highly valued the roles of the Thailand - Vietnam and Vietnam - Thailand Friendship Associations and agreed to continue supporting these two organisations in promoting and strengthening the peoples’ friendship between our two countries. Thus, the two sides commit to fully utilise sister city frameworks between provinces of both countries, with a view to promoting broader and deeper people-to-people exchanges, especially among the younger generations of the two countries.

Enhancing Partnership for the Region and the World

15. The two leaders stressed the importance of Thailand and Vietnam coordinating closely their positions on issues of mutual concern and interest in sub-regional, regional and multilateral frameworks of which the two countries are members, such as the United Nations (UN), Association of Southeast Asian Nations (ASEAN), Asia Pacific Economic Cooperation (APEC), Asia-Europe Meeting (ASEM), Greater Mekong Subregion (GMS), Ayeyawady - Chao Phraya - Mekong Economic Cooperation Strategy (ACMECS), Mekong River Commission (MRC) and other Mekong cooperation frameworks. President Phuc spoke highly of Thailand’s Chairmanship of APEC in 2022, while Prime Minister Prayut expressed his appreciation for the full support from Vietnam.

16. The two leaders agreed that Thailand and Vietnam will work closely to promote ASEAN’s unity, centrality and efforts in addressing emerging issues. Both leaders expressed their full support for ASEAN’s leading role on the Myanmar issue. Both sides expressed their support for the implementation of the four areas of cooperation identified under the ASEAN Outlook on Indo-Pacific (AOIP), the ASEAN Comprehensive Recovery Framework (ACRF) and other relevant ASEAN initiatives, including but not limited to promoting synergies between existing Mekong sub-regional cooperation efforts and ASEAN Community building efforts. Thailand and Vietnam also agreed to work closely on the effective implementation of the Regional Comprehensive Economic Partnership (RCEP) agreement.

17. The two leaders reaffirmed the importance of maintaining and promoting peace, security, stability, safety, and freedom of navigation in and over flight above the South China Sea and recognised the benefits of having the South China Sea as a sea of peace, stability, and prosperity. They reiterated their commitment to and support for the resolution of all disputes by peaceful means, without resorting to the threat or use of force, in accordance with international law, including the 1982 UNCLOS, with full respect for legal and diplomatic processes. They underscored the importance of the full and effective implementation of the 2002 Declaration on the Conduct of Parties in the South China Sea (DOC) in its entirety. They were encouraged by the progress of the substantive negotiations towards the early conclusion of an effective and substantive Code of Conduct in the South China Sea (COC) consistent with international law, including the 1982 UNCLOS, within a mutually agreed timeline.

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ANNEX

Documents signed during President Nguyen Xuan Phuc’s Official Visit to the Kingdom of Thailand
16 November 2022

1. Plan of Action on Implementing the Thailand – Vietnam Strengthened Strategic Partnership 2022 - 2027;
2. Agreement on Mutual Judicial Assistance in Civil Matters between the Kingdom of Thailand and the Socialist Republic of Vietnam;
3. Memoradum of Understanding on the Establishment of Sister City Relationship between and Khon Kaen Province, the Kingdom of Thailand and Da Nang City, the Socialist Republic of Vietnam;
4. Memorandum of Understanding between Board of Trade of Thailand and Vietnam Chamber of Commerce and Industry; and
5. Bilateral Trade and Investment Facilitation Agreement between the Export-Import Bank of Thailand (EXIM Bank) and Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank).