Vietnamese State President Nguyen Xuan Phuc and Thai Prime Minister Prayuth Chan-o-cha discussed measures to deepen the two nations’ bilateral cooperation during their talks in Bangkok on Wednesday.
The meeting took place following a welcome ceremony for President Phuc as part of his trip to Thailand for an official visit and attendance at the 29th Asia-Pacific Economic Cooperation (APEC) Economic Leaders’ Meeting.
This is the first official visit to Thailand by a Vietnamese state president in 24 years, and it is expected to set another important milestone in the increasingly closer relationship between the two countries, according to the Ministry of Foreign Affairs.
At the talks, President Phuc and PM Chan-o-cha expressed their satisfaction at the growing relationship between the two countries.
Economic cooperation is a bright spot in the relationship between the two countries despite current geopolitical conflicts in the region and the world.
In 2021, Thailand was Vietnam's largest trading partner in the Association of Southeast Asian Nations (ASEAN) with a turnover of US$19 billion, an increase of 18 percent compared to 2020.
|The welcome ceremony for Vietnamese State President Nguyen Xuan Phuc in Bangkok, November 16, 2022. Photo: Nhat Dang / Tuoi Tre|
Thailand is also one of the 10 biggest investors in Vietnam with 670 projects and the total registered capital of $13 billion.
During the first six months of 2022, Vietnam welcomed 40,000 Thai tourists while Thailand welcomed 130,000 Vietnamese visitors.
The two sides agreed to strengthen economic cooperation to promote socio-economic recovery in the two countries and the region, especially in trade, investment, transportation, and digital economy development.
Vietnam and Thailand agreed to lift two-way trade to $25 billion by 2025 in a more balanced and sustainable direction.
President Phuc proposed that Thailand limit its application of trade safeguard measures and create favorable conditions for Vietnamese farm produce to access the Thai market.
He encouraged Thai enterprises to expand investment and business operations in Vietnam, especially in new fields such as hi-tech, digital economy, e-commerce, green energy, and infrastructure.
|Vietnamese State President Nguyen Xuan Phuc (R) and Thai Prime Minister Prayuth Chan-o-cha review the guard of honor in Bangkok, November 16, 2022. Photo: Nhat Dang / Tuoi Tre|
The two sides agreed to continue promoting the strengthened strategic partnership between Thailand and Vietnam through the ‘Three Connects’ strategy, namely connecting the two countries’ supply chains, connecting the two countries' grassroots economies, and connecting sustainable growth strategies between Thailand’s Bio-Circular-Green (BCG) Economy Model and Vietnam’s Green Growth Strategy.
Regarding regional and global issues of shared concern, the two leaders promised to work closely together to promote ASEAN’s unity and centrality, and build a Mekong sub-region of connectivity, peace, and prosperity. They agreed to maintain ASEAN’s common stance on the East Vietnam Sea issue and underscored the importance of maintaining peace and stability in the maritime area in line with international law, including the 1982 United Nations Convention on the Law of the Sea (UNCLOS).
Following the talks, both leaders witnessed the signing of multiple cooperation agreements.
They later met with the press to inform them about the visit and issued a joint statement in celebration of 10 years of the Vietnam - Thailand strategic partnership.