Thailand, Vietnam boost trade target to US$15 bln by 2020

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Thailand, Vietnam boost trade target to US$15 bln by 2020
By Digital Content



HANOI, Nov 28 -- Vietnam and Thailand have agreed to increase bilateral trade to US$15 billion by 2020, and Hanoi is prepared to cooperate with Bangkok in other areas, including education, culture, tourism, sports and security.

The agreement was made yesterday during a two-day official visit to Vietnam and his Vietnamese counterpart Nguyen Tan Dung by Thai Prime Minister Gen Prayut Chan-o-cha, according to a Thai government spokesman.

Stressing the strong diplomatic relations which the two countries have enjoyed and will mark their 40th anniversary in 2016, the two leaders agreed to increase imports and exports, especially agricultural products such as rice and rubber, in order to achieve the trade target, the spokesman said.

Thanking the Vietnamese government for helping the Thai business community to invest in Vietnam, Gen Prayut proposed to Mr Dung that the investment promotion agencies of the two countries consider forming a joint working committee to promote and protect investment between the two nations and to end double taxation for maximum benefit . The Thai prime minister also asked Mr Dung to allow more Thai commercial banks set up in Vietnam, the spokesman said.

Both sides agreed that the major factor to efficiently boost the development and integration of Myanmar, Thailand, Laos and Vietnam is effecting the frameworks of the East-West and and the North-West Economic Corridors, he said.

Thailand proposed a bus service between Northeastern Thailand and Central Vietnam be opened to stimulate trade, investment and tourism in the sub-region, the spokesman said.

The two leaders also welcomed low-cost airlines launching new routes and development of coastal cruises, aimed at boosting tourism between the two countries, he said.

Gen Prayut invited Mr Dung to officially visit Thailand and to co-chair the third Joint Thailand-Vietnam Cabinet Ministers Meeting, an informal meeting to be hosted by Bangkok in January.

Mr Dung, according to the spokesman, accepted the invitation and reaffirmed that his government is prepared to cooperate with Thailand in a number of areas including education, culture, tourism, sports and security as they are part of the “creative development for ASEAN and for the region in general.”

The two leaders also witnessed the signing of three memoranda of understanding: a Thai-Vietnamese strategic partnership implementation plan, an operations plan on the exchange of Thai-Vietnamese cultural plan, and establishing a sister city relationship between Chachoengsao and the Vietnamese city of Can Tho. (MCOT


-- TNA 2014-11-28