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Vietnam, Thailand to raise two-way trade target

Released at: 08:46, 29/11/2014

Vietnam, Thailand to raise two-way trade target

Commitment made during a visit to Vietnam by Thai PM.

by Hoang Vu

Vietnam and Thailand have agreed to try and boost two-way trade to as high as $15 billion by 2020, following a meeting between Prime Minister Nguyen Tan Dung and his visiting Thai counterpart Prayut Chan-ocha, who arrived in the country on November 27.

The two PMs vowed to further strengthen the exchange of high-level delegations and effectively carry out bilateral cooperative mechanisms such as joint cabinet meetings and the Vietnam-Thailand bilateral cooperation committee, and to task ministries, agencies and localities with realizing signed agreements, according to the Vietnam News Agency.

PM Dung said that Vietnam appreciates Thailand’s efforts in its role as the coordinator of ASEAN-China relations, which has contributed to maintaining the bloc’s solidarity and common voice in the East Sea issue.

Both sides agreed to continue working together to settle disputes through peaceful measures in accordance with international law, including the 1982 UN Convention on the Law of the Sea (UNCLOS) and the Declaration on the Conduct of Parties (DOC) in the East Sea, and to beef up negotiations over the Code of Conduct (COC) in the East Sea.

PM Prayut Chan-ocha invited PM Dung to attend the Greater Mekong Sub-region Summit in December this year and to co-chair the third joint cabinet meeting in 2015 in Thailand.

The two PMs also witnessed the signing of the 2014-2016 action program on the implementation of the Vietnam-Thailand strategic partnership, a 2014-2016 cultural cooperation program, and a co-operation agreement between Can Tho city and Chachongsao province.

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