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Vietnam, Thailand discuss ways to achieve 20 billion USD in trade

The third meeting of the Vietnam-Thailand Joint Trade Committee opened on August 2 in Hanoi to enhance bilateral economic and trade cooperation.
Vietnam, Thailand discuss ways to achieve 20 billion USD in trade ảnh 1Shoppers at a stall selling Thai products (Photo: VNA)

Hanoi (VNA) – The third meetingof the Vietnam-Thailand Joint Trade Committee opened on August 2 in Hanoi toenhance bilateral economic and trade cooperation.

The two-day event is co-chaired by Ministerof Industry and Trade (MoIT) Tran Tuan Anh and Thai Commerce Minister SontiratSontijirawong.

At the meeting, the two sides will revieweconomic and trade cooperation of the nations since the previous meeting in2015, as well as discuss plans to bring two-way trade to 20 billion USD in 2020and ensure a more balanced trade in the time to come.

Measures to address obstacles inexport-import activities are high on the agenda.

The meeting will also talk about ways topromote collaboration in related areas, including trade facilitation,agriculture, transport connectivity, customs, banking, investment, labour,intellectual property, regional and sub-regional cooperation.

Thailand is currently Vietnam’s largesttrade partner in the Association of Southeast Asian Nations (ASEAN), accordingto the Department of Asia-Africa Markets under the MoIT.

Last year, Vietnam - Thailand trade rose to15.3 billion USD from 11.5 billion USD in 2015, recording an average growthrate of 15.5 percent per year.

As of the beginning of July 2018, bilateraltrade reached around eight billion USD, a rise of 14.7 percent year-on-year.Vietnam’s export revenue to Thailand hit 2.7 billion USD in the period, while itsimport stood at 5.3 billion USD.

Thailand’s statistics showed Vietnam is thesecond largest trading partner of Thailand in ASEAN, after Malaysia.-VNA

VNA
#Vietnam-Thailand Joint Trade Committee #bilateral economic and trade cooperation #Minister of Industry and Trade Tran Tuan Anh #Thai Commerce Minister Sontirat Sontijirawong #export-import activities #trade partner #vietnamplus #Vietnam News Agency Ha Noi
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