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Dec 08, 2023 / 18:08

Vietnam, Thailand top legislators expect bilateral trade to hit $25 billion

Top legislators from the Vietnamese and Thai parliaments agreed to promote bilateral relations in all fields at all levels.

Vietnam and Thailand will strive to lift their bilateral trade to US$25 billion and remove barriers for both business communities to expand their operations.

The commitments were made at a meeting between Vuong Dinh Hue, Chairman of the National Assembly of Vietnam, and Wan Muhamad Noor Matha, Speaker of the House of Representatives of Thailand, on December 7.

 Vietnamese National Assembly Chairman Vuong Dinh Hue (left) and his Thai counterpart Wan Muhamad Noor Matha sign a parliamentary agreement on December 7. Photo: Vietnam News Agency

The two top lawmakers agreed to strengthen their leadership and efforts to boost bilateral relations in all fields and at all levels. They also pledged to implement the mechanisms that are part of the Program for Strengthening the Vietnam-Thailand Strategic Partnership in 2022-2027.

The two legislators shared the will to promote the implementation of the "Three Connections" strategy, which focuses on developing new supply chains and high value-added products, and ensuring regional food security.

Vietnam and Thailand will also strengthen ties between the two countries' business communities, improve transport connectivity, and help each other develop a digital and green economy, the two officials said.

The two sides agreed that the two nations will further develop their relations in other areas such as climate change response, environmental protection, health care and disease prevention, national defense and security, education and training, cultural exchanges, tourism, and people-to-people exchanges.

Chairman Hue and his Thai counterpart agreed to strengthen parliamentary relations by organizing more meetings for senior officials and young parliamentarians, and to support each other in multilateral parliamentary forums.

The two parliamentary leaders stressed that Vietnam and Thailand will work together to address issues of mutual concern and promote ASEAN as the key mechanism for resolving regional issues.

They also reaffirmed the importance of sustainable use and development of the Mekong River, and stressed the unity among ASEAN nations on the East Sea (South China Sea) issues.

Chairman Hue appreciated Thailand's contribution to the development of Vietnam Town and the Vietnamese Studies Center in Udon Thani Province. He hoped that the Thai authorities will continue to support Vietnamese people and businesses and preserve the relics of the late President Ho Chi Minh in Thailand.

Hue said that Vietnam and Thailand should improve their relations in the future, adding that Vietnam always respects and seeks to improve its strategic partnership with Thailand.

Speaker of the House of Representatives of Thailand Wan Muhamad Noor Matha said Hue's visit is one of the key activities to celebrate the 10th anniversary of the establishment of the Vietnam-Thailand strategic partnership (2013-2023).

He said the visit and its positive outcomes will inspire the two countries to make new achievements, especially in parliamentary cooperation.

The Thai MP appreciated Vietnam's recent achievements in socio-economic growth, stressing that Thailand considers Vietnam as one of its most important partners in the region.

At the end of the meeting, the two top legislators signed the Memorandum of Understanding (MoU) between the Vietnamese National Assembly and the Thai House of Representatives, and witnessed the signing of the MoU between the Office of the Vietnamese National Assembly and the Secretariat of the Thai House of Representatives.

Vietnam and Thailand are each other's most important partners in the region. Among ASEAN economies, Thailand is Vietnam's largest trading partner, with total trade reaching a record high of $22 billion last year, and the second largest foreign investor, with total capital of $14 billion.

On the same day, Vietnam's National Assembly Chairman Vuong Dinh Hue met with Thai Senate President Pornpetch Wichitcholchai.

The Thai lawmaker congratulated Vietnam on its recent achievements, recalling his visit to Vietnam in August 2017. He appreciated the development of the Vietnam-Thailand strategic partnership in all fields at all levels.