Thailand and Vietnam Strengthen Ties: Comprehensive Strategic Partnership for Trade, Investment, and Sustainable Development
Thailand and Vietnam have upgraded their relationship to a Comprehensive Strategic Partnership.
This new partnership aims to increase bilateral trade, promote sustainable development, and enhance political-diplomatic and defense cooperation.
Thailand is the first ASEAN country to establish this type of partnership with Vietnam.
The foreign ministers of both countries, Parnpree Bahiddha-nukara of Thailand and Bui Thanh Son of Vietnam, made this announcement during their 5th Joint Commission meeting in Bangkok on Thursday.
As Comprehensive Strategic Partners, they plan to work together to bring peace, stability, and prosperity to their countries and the region.
Thailand and Vietnam have strengthened their economic ties through various trade measures.
These include increasing import quotas for livestock and recognizing each other's seasonal local products.
Thailand is the 9th largest foreign investor in Vietnam, while Vietnam is an emerging investor in Thailand.
The bilateral trade between the two countries exceeded 20 billion baht in 2022, and they have the largest number of sister provinces in the region.
Both countries express strong trust in each other at every level.
Mr. Parnpree reported that investments between the two countries are increasing and will continue to do so.
To strengthen their economic relationship, the nations plan to collaborate on connecting supply chains, local economies, and sustainable development strategies.
Additionally, they will explore new areas for cooperation in science, technology, the green economy, circular economy, digital economy, innovation ecosystem development, and equitable energy transition.
Thailand is the first ASEAN country to establish this type of partnership with Vietnam.
The foreign ministers of both countries, Parnpree Bahiddha-nukara of Thailand and Bui Thanh Son of Vietnam, made this announcement during their 5th Joint Commission meeting in Bangkok on Thursday.
As Comprehensive Strategic Partners, they plan to work together to bring peace, stability, and prosperity to their countries and the region.
Thailand and Vietnam have strengthened their economic ties through various trade measures.
These include increasing import quotas for livestock and recognizing each other's seasonal local products.
Thailand is the 9th largest foreign investor in Vietnam, while Vietnam is an emerging investor in Thailand.
The bilateral trade between the two countries exceeded 20 billion baht in 2022, and they have the largest number of sister provinces in the region.
Both countries express strong trust in each other at every level.
Mr. Parnpree reported that investments between the two countries are increasing and will continue to do so.
To strengthen their economic relationship, the nations plan to collaborate on connecting supply chains, local economies, and sustainable development strategies.
Additionally, they will explore new areas for cooperation in science, technology, the green economy, circular economy, digital economy, innovation ecosystem development, and equitable energy transition.
Translation:
Translated by AI
