Vietnam and Thailand have agreed to cooperate in the Meetings, Incentives, Conferences and Exhibitions (MICE) industry to promote bilateral trade.

An agreement to this effect was signed by Director of Thailand Convention and Exhibition Bureau (TCEB) Supawan Teerarat, and Vice Chairman of the Vietnam Chamber of Commerce and Industry (VCCI) Hoang Van Dung, in Hanoi on March 16.

Last year’s two-way trade between Vietnam and Thailand rose 25 percent to 9 billion USD with Vietnam ’s export earnings from Thailand up 45 percent.

Thailand has become one of 10 leading investors in Vietnam with a total of 230 investment projects.

Teerarat said the document will focus on human resources development and cultural and economic cooperation through MICE, expressing her hope that the cooperation will increase Vietnam ’s market share in Thailand by 30 percent or 2.5 million USD in value.

Meanwhile, Dung said that the document will help enhance cooperation between businesses through MICE expert training programmes. In addition, VCCI will closely coordinate with TCEB in promoting trade and MICE activities to stimulate business development.

Vietnam is one of Thailand ’s potential markets in the MICE industry, especially in the exhibition sector. This year, TCBE plans to expand its operation in the field of meetings.

Vietnam ranks fourth among ASEAN nations in the number of tourists to Thailand , after Malaysia , Singapore and Laos . From 2010-2011, Vietnamese tourist numbers grew by 30 percent.-VNA