Vietnam, Thailand discuss ways for promoting bilateral trade

Vietnam and Thailand held the fourth meeting of their Joint Trade Committee in Bangkok on April 20, working out orientations, measures, and action plans to soon raise bilateral trade to 25 billion USD.
Vietnam, Thailand discuss ways for promoting bilateral trade ảnh 1Vietnam and Thailand are striving for 25 billion USD in bilateral trade. (Photo: VNA)
Bangkok (VNA) –Vietnam and Thailand held the fourth meeting of their Joint Trade Committee inBangkok on April 20, working out orientations, measures, and action plansto soon raise bilateral trade to 25 billion USD.

In his opening remarks, ThaiDeputy Prime Minister and Minister of Commerce Jurin Laksanawisit affirmed his countryviews Vietnam as a partner of leading importance in Southeast Asia, and that itattaches importance to bolstering economic and trade ties with Vietnam.

He highlighted the increasein the two-way trade, thanking the Vietnamese Government and agencies for creating optimal conditions for enterprises and organisations of Thailand.

Apart from the proposalslisted in the meeting’s minutes, he asked Vietnam to create favourableconditions for goods to be transited under the agreements signed within theGreater Mekong Subregion and ASEAN frameworks, chicken and some fruits ofThailand licensed, and pharmaceuticals registered.

He also called for expandinglabour cooperation under the memorandum of understanding between the twocountries’ labour ministries.

Vietnam, Thailand discuss ways for promoting bilateral trade ảnh 2The fourth meeting of the Vietnam - Thailand Joint Trade Committee in Bangkok on April 20 (Photo: VNA)
Vietnamese Minister of Industryand Trade Nguyen Hong Dien said the initiatives, measures, and concrete actionsdevised at the meeting will create new impulses for bilateral economic andtrade relations, along with the countries’ coordination within ASEAN and othermultilateral and regional cooperation frameworks.

The two sides reviewedcooperation outcomes and shortcomings in trade and relevant areas since thethird meeting held in 2018.

They applauded the positivegrowth in bilateral trade which stood at 18.8 billion USD in 2021, up 17.9percent year on year despite impacts of the COVID-19 pandemic.

The officials agreed to actively coordinate and facilitate import and exportactivities between the two countries towards a mutually beneficial and more balanced trade. Theyalso identified ways for strengthening links in agriculture, transportconnectivity, and investment.

Vietnam and Thailand agreed to boost coordination andmutual support at sub-regional, regional, and multilateral mechanisms likeASEAN, Asia-Pacific Economic Cooperation (APEC), the Asia - Europe Meeting (ASEM), theAyeyawady-Chao Phraya-Mekong Economic Cooperation Strategy (ACMECS), the Mekong - Lancang Cooperation, the WorldTrade Organisation (WTO).

To ease the pandemic’s impacts onregional economies, they also agreed to tighten cooperation in implementing andupgrading the ASEAN Trade in Goods Agreement (ATIGA) and ASEAN Plus free tradeagreements, with a focus on measures for facilitating trade, removing non-tariffbarriers, and enhancing transparency so as to ensure uninterrupted goods flowsand consolidate intra-ASEAN trade and regional supply chains, thereby contributingto post-pandemic regional economic recovery.

Vietnam, Thailand discuss ways for promoting bilateral trade ảnh 3Minister of Industry and Trade Nguyen Hong Dien (Photo: VNA)
Talking to the Vietnam NewsAgency, Minister Dien said both countries are determined to developincreasingly extensive, effective, and substantive relations on the basis ofmutual respect and understanding, and win-win cooperation at all levels andin all fields.

Thailand is the largesttrade partner and export market of Vietnam in ASEAN, and also ranks ninth among the foreign investors in Vietnam which, in turn, is the second biggest trade partnerof Thailand in the bloc.

The two sides are dynamiceconomies in the Asia-Pacific region and boast much potential for further steppingup their trade and partnerships in relevant aspects, including energy,transport, logistics, finance, banking, agriculture, and investment. Both arealso members of many free trade agreements (FTAs), including the Regional ComprehensiveEconomic Partnership (RCEP).

Given this, they are holdingmajor opportunities for reinforcing ties within regional supply chains andproduction networks so as to effectively tap into FTAs, according to Dien./.
VNA

See more

Prime Minister Pham Minh Chinh (right) and Associate Vice-President of IFAD’s Department for Country Operations Donal Brown (Photo: VNA)

PM seeks IFAD’s support for Vietnam’s carbon credit market development

Highlighting the country's commitment to developing green and sustainable agriculture, PM Chinh requested IFAD to increase preferential loans and promote non-refundable aid for projects applying scientific and technological innovations in agriculture, while helping Vietnam successfully carry out the one million hectares of low-emission, high-quality rice project.

At the discussion on "Revitalising and Unleasing Finance Strategy for Global Green Growth". (Photo: VNA)

Green growth – an irreversible global trend: P4G discussions

Ministerial discussions were held on April 17 within the framework of the 4th Partnership for Green Growth and the Global Goals 2030 (P4G) Summit, bringing together domestic and international officials to address critical aspects of sustainable development and green transition.

The first commercial vessel officially docks at Berths 3 and 4 at the Hai Phong International Gateway Port in the northern city of Hai Phong on April 16. (Photo: VNA)

First commercial ship docks at new berths in Hai Phong

The official launching of terminals marks Hai Phong Port’s regional leading ability in port operations and reaffirms Hai Phong Port JSC’s key role in the North. Once HTIT is fully operational, Hai Phong Port’s market share in container cargo in the region is expected to reach 40%, and 60% for non-container cargo in the Hai Phong area.

Containers of export goods at a port in Binh Duong province. (Photo: VNA)

Vietnam to develop trade defence early warning system

Part of a new Government decree, the early warning system aims to provide timely information to businesses and industry associations, enabling them to take preventive measures and prepare appropriate responses.

Deputy PM Nguyen Chi Dung (R) receives a delegation from the Southeast Asia Semiconductor Association in Hanoi on April 16. (Photo: VNA)

Deputy PM calls for SEMI SEA’s assistance in semiconductor, AI industry

The Deputy PM revealed that Vietnam is intensifying efforts to achieve its goal of training 50,000 engineers for the semiconductor industry by 2030, requesting SEMI SEA and its member companies coordinate with Vietnam's Ministry of Finance and the National Innovation Centre (NIC) to implement this training programme.

Ambassador Dinh Toan Thang (R) and Bertrand Gaume, Prefect of the Hauts-de-France region. (Photo: VNA)

Vietnam eyes stronger trade, investment links with France's northern region

Ambassador Dinh Toan Thang stressed that Hauts-de-France, with its robust industrial base, well-developed seaport and logistics networks, and open investment environment, represents a highly promising partner for Vietnamese localities and businesses aiming to deepen integration into the European Union market.