Vietnam, Thailand aim for US$25 billion trade by 2030 based on complementary strengths

VOV.VN - Both sides should utilize complementary strengths in areas such as the digital economy, green energy, regional supply chains, and smart agriculture, while making full use of free trade agreements like the Regional Comprehensive Economic Partnership (RCEP), to achieve the US$25 billion bilateral trade target by 2030.

National Assembly (NA) Chairman Tran Thanh Man made the statement at a meeting in Hanoi on May 15 with Thai Prime Minister Paetongtarn Shinawatra and a high-level delegation of the Royal Thai Government during their official visit to Vietnam and their co-chairing of the 4th Vietnam–Thailand Joint Cabinet Meeting.

Welcoming PM Shinawatra and the Thai delegation, the top Vietnamese NA leader highlighted the significance of the visit, which takes place as the Enhanced Strategic Partnership between Vietnam and Thailand continues to grow strongly and comprehensively across a variety of fields. He expressed his belief that the visit will mark an important milestone and open a new chapter in bilateral relations.

The top legislator congratulated Thailand on its recent achievements under PM Shinawatra’s leadership, particularly the 2025 agenda focusing on infrastructure and social welfare development. He also thanked the Thai Government for supporting the Vietnamese community of over 100,000 people, who are actively contributing to Thailand’s society and serve as a vital bridge for friendship between the two nations.

Chairman Man praised Thailand’s role in ASEAN and the international arena, and its efforts to promote peace, stability, and prosperity in the region. He urged Thailand to continue working with Vietnam and other countries to maintain ASEAN’s shared stance on the East Sea, striving to make it a sea of peace and cooperation.

Expressing satisfaction with growing economic, trade, and investment ties, he noted that the outlook for bilateral economic cooperation remains promising with untapped potential. Thailand is currently Vietnam’s largest trading partner in ASEAN, with two-way trade hitting more than US$20.2 billion in 2024, up 6.3% year-on-year.

In the first four months of 2025 alone, bilateral trade soared by 11.2% to nearly US$6.88 billion. Thailand ranks 9th among 150 countries and territories investing in Vietnam, with 767 projects and total registered capital exceeding US$14.85 billion. These figures reflect not only dynamic cooperation but also strong trust and close ties between the two countries.

Chairman Man affirmed Vietnam’s readiness to share experience and enhance cooperation with Thailand in high-tech agriculture, green transition, and sustainable development. The Vietnamese NA will continue to improve the legal framework, facilitate business and investment, and support joint initiatives in strategic fields, he told his guest.

Regarding legislative cooperation, Chairman Man greatlyvalued the strong ties between the two legislatures, marked by frequent high-level exchanges and effective co-operation in lawmaking and supervision. Friendship Parliamentary Groups have also played a key role in strengthening mutual understanding and expanding cooperation in trade, investment, tourism, and education.

He applauded the close coordination between the Vietnamese and Thai legislatures in regional and international parliamentary forums, such as the Inter-Parliamentary Union (IPU) and the ASEAN Inter-Parliamentary Assembly (AIPA), emphasizing that this collaboration not only strengthens bilateral relations but also contributes to regional peace and stability.

On this occasion, Chairman Man conveyed his greetings and invitation to Speaker of the Thai House of Representatives Wan Muhamad Noor Matha and President of the Thai Senate Mongkol Surasajja to visit Vietnam in the near future.

For her part, PM Paetongtarn Shinawatra showed great joy at making her first official visit to Vietnam and witnessing the country’s impressive socio-economic achievements.

She informed Chairman Man that the visit’s major purpose is to co-chair the 4th Joint Cabinet Meeting and hold discussions with Vietnamese leaders to deepen cooperation, especially in trade, investment, and economics, aiming to take the bilateral relationship to new heights. She underlined the significance of the joint cabinet mechanism, which Thailand maintains only with its closest neighbours, including Vietnam.

The Thai PM noted the many similarities between the two countries and their important roles in each other’s foreign policy. She stressed that closer collaboration is especially meaningful in the current context of regional and global challenges. She called for the two sides to intensify delegation exchange and expand cooperation between their Friendship Parliamentary Groups, particularly in legislative affairs and multilateral parliamentary forums.

Both leaders agreed that the people of Vietnam and Thailand share close bonds and cultural similarities. They laid stress on the need to augment cooperation in tourism, railways, and aviation, including opening more direct flights between localities and studying the possibility of a railway link connecting Vietnam and northeastern provinces of Thailand.

On this occasion, PM Paetongtarn Shinawatra extended a cordial invitation to NA Chairman Tran Thanh Man to visit Thailand. Chairman Man thanked her and said he will arrange a visit at an appropriate time.

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