Vietnam to Broaden Relations with Thailand

July 3, 2013 Posted by Vietnam Briefing Reading Time: 2 minutes

Jul. 3 – During talks held in Bangkok last week, Vietnam and Thailand agreed to elevate their bilateral relations to create a strategic partnership.

The meetings, which were led by General Secretary of the Communist Party of Vietnam Nguyen Phu Trong and Thai Prime Minister Yingluck Shinawatra, discussed and emphasized that the strategic partnership would focus mainly on cooperation on political and socio-cultural issues, economic relations and issues relating to national defense and security.

General Secretary Trong also spoke with various other Thai officials and representatives of leading Thai companies during his visit.

Furthermore, the two leaders have also pledged to boost two-way trade between Vietnam and Thailand to US$15 billion by 2020. Two-way trade amounted to US$8.6 billion last year.

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The strategic partnership agreement is scheduled to be signed next October during a joint cabinet meeting that will be held in Thailand.

The move to further boost relations comes off the heels of steady improvement in bilateral trade and commercial ties between the countries, especially in rice production and exports, finance, transportation, gas and oil.

Vietnamese investors have established a total of eight projects in Thailand so far this year, worth a total investment of US$11.8 million. On the other hand, Thailand is now Vietnam’s ninth biggest investor with a total of 313 projects worth US$6.4 billion currently underway in the country.

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