Vietnam – Thailand trade to hit 20 billion USD in 2020 hinh anh 1Vietnamese and Thai firms connect at the event (Photo: VNA)

HCM City (VNA) – Vietnam and Thailand are striving to increase bilateral trade to 20 billion USD in 2020, as heard a business connectivity conference in Ho Chi Minh City on September 29.

Thai Consul General in HCM City Ureerat Ratanaprukse stated Vietnam and Thailand are key economic partners, with leaders of both sides agreeing to boost comprehensive trade ties.

The agreement lays the basis for Vietnamese and Thai firms to work together and involve in global and regional supply chains.

Pham Thanh Kien, head of the HCM City Department of Industry and Trade, said the southern city is a potential destination for Thai products, which have gained favour with local consumers for their quality and competitive prices.

Since the beginning of 2017, seven Thai goods fairs have taken place in HCM City, with three more expected to run toward the year’s end.

Vietnam is currently Thailand’s second biggest partner in ASEAN, while Thailand is top trade partner of Vietnam in the bloc.

In 2016, bilateral trade reached 12.54 billion USD, which accounted for 3.6 percent of Vietnam’s total import-export value.-VNA