Prime Minister Nguyen Xuan Phuc (R) received Governor of the Bank of Thailand Veerathai Santiprabhob in Hanoi on August 5 (Photo: VNA)

Hanoi (VNA) – Prime Minister Nguyen Xuan Phuc expressed his hope for stronger ties between the Vietnamese and Thai banking systems while receiving Governor of the Bank of Thailand (BoT) Veerathai Santiprabhob in Hanoi on August 5.

The host leader noted with satisfaction that the two sides have signed and implemented many important cooperation documents, an important prerequisite for the upcoming joint cabinet meeting.

He voiced his belief that the bilateral strategic partnership will develop even more strongly, especially in trade and investment.

Thailand is currently the biggest ASEAN trade partner of Vietnam with bilateral trade reaching 17.3 billion USD in 2018 and expected to hit 20 billion USD in 2020. With the registered capital of over 8 billion USD, it ranks 10th among the 116 countries and territories and third among the ASEAN nations investing in Vietnam.

Vietnam always exerts every effort to support Thai investors, PM Phuc affirmed, noting that the two Governments have also worked hard to protect legitimate interests of their countries’ investors and businesses.

For his part, Santiprabhob said bilateral investment and trade links have been flourishing in recent years, and the BoT always wishes to actively contribute to these partnerships.

Both sides should foster connections in finance–banking to bolster economic, trade and investment relations, he said, believing that they hold huge potential for cooperation in banking supervision, payment facilitation and cross-border transactions.

Thailand always supports Vietnam’s initiative within the framework of ASEAN and bilateral cooperation, including in the finance–banking area, the BoT Governor added.

At the meeting, PM Phuc said Vietnam has gained many socio-economic attainments, yet it is still willing to learn Thailand’s experience, particularly in macro-economic governance and the finance–banking sector. It also wishes to work closely with Thailand to effectively cope with changes in the world.

As the BoT is crucial to businesses, Vietnam will create the best possible conditions for bilateral partnerships, especially the BoT’s cooperation with the State Bank of Vietnam in e-payment, he said, considering the Thai central bank an important bridge greatly helping with the two countries’ strategic partnership in all fields.

Santiprabhob affirmed the BoT is ready to share its experience and meet cooperation demand in financial connection and other banking services. -VNA