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Vietnam, Thailand take steps to promote bilateral partnership

Hai Yen HANOI TIMES Mon, August 30, 2021

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 Overview of the meeting.

Thailand remains Vietnam’s largest trading partner in ASEAN and the 9th largest foreign investor in the country.

Vietnam and Thailand are committed to pushing for greater efficiency in the bilateral enhanced strategic partnerships.

 

Vietnam’s Chairman of the National Assembly (NA) Vuong Dinh Hue and his Thailand’s counterpart Chuan Leekpai shared the view during an online meeting on August 30.

“Vietnam gives priority to its partnership with Thailand, which has been progressing over the years with growing political trust,” Hue said.

Amid severe economic impacts as a result of the Covid-19 pandemic, Vietnam-Thailand bilateral trade turnover continues to grow as Thailand remains Vietnam’s largest trading partner in ASEAN and the 9th largest foreign investor in the country with an investment capital of US$12.3 billion.

Hue expressed his thanks for Thailand’s support in the Covid-19 fight, expecting closer cooperation in responding to the pandemic, including the development, production, and fair distribution of vaccines, medicines, and medical equipment, as well as the support from the Thai Government for Vietnam to purchase AstraZeneca vaccines produced in Thailand.

As steps to bolster Vietnam-Thailand enhanced strategic partnership, Hue called for the soon finalization and signing of the action program to carry out the bilateral enhanced strategic partnership in the 2021-2025 period, as well as other legal documents such as treaties on extradition and legal assistance in civil matters.

Vietnam’s NA Chairman expected stronger support for enterprises from the two countries to soon realize the two-way trade turnover target of US$25 billion by 2025; resolve pending issues for mutual benefits and enhance working mechanism under the Mekong sub-region in association with the establishment of the ASEAN Community.

“Thai companies could further invest in Vietnam in potential fields such as renewables, tourism, green agriculture, or IT,” Hue added.

Hue stressed the necessity for both countries to closely cooperate to promote ASEAN’s stance on the East Sea to maintain peace, stability, and freedom of navigation based on international law, including the 1982 UN Convention on the Law of the Sea (UNCLOS), along with the full and effective implementation of the Declaration on the Conduct of Parties in the East Sea (DOC) as well as the soon finalization of the Code of Conduct in the East Sea (COC).

Thailand’s President of the National Assembly Chuan Leekpai expressed his support for stronger relations with Vietnam and suggested the two sides soon address trade barriers for higher trade turnover between the two.

In 2020, bilateral trade turnover reached over $16 billion despite the pandemic impacts. In the first seven months of this year, Vietnam exported goods worth $3.53 billion to Thailand, up 32.3% year-on-year, while imports stood at $7.74 billion, or an increase of 31.6%.

https://bit.ly/2YbDnk0

SOURCE – HANOI TIMES, IETNAM Mon, August 30, 2021

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