Vietnam-Thailand trade increases sharply

(VOV) - Two-way trade between Vietnam and Thailand rose 9.2% in 2013 to US$9.4 billion, according to the Ministry of Industry and Trade.

In the first two months of 2014 alone, bilateral trade value expanded 1.8% to US$1.4 billion.

Currently, Vietnam is Thailand’s seventh largest importer, and Thai commodities make up 5.1% of Vietnam’s total import value.

vietnam-thailand trade increases sharply hinh 0
Thai consumer goods are popular with Vietnamese people (Photo:vinaxad)

Thailand is the 10th largest investor in Vietnam, with more than 300 projects in operation.

Thailand exports plastics, petrol, chemicals, vehicles, steel and machinery to Vietnam. It imports household utensils, steel products, electronics, motorbikes, machinery, equipment, and frozen seafood.

At a press briefing in Hanoi on March 26, Jaruwan Suwannasat, Exhibition Director of the Thailand Convention and Exhibition Bureau (TCEB), noted trade cooperation between Thailand and Vietnam make a considerable contribution to ASEAN’s growth.

She said TCEB will support trade ties between the two countries’ business communities through exhibitions and trade promotions, aiming to raise bilateral trade to US$15 billion by 2020.