Viet Nam, Thailand discuss ways to achieve US$20 billion in trade

Friday, Aug 03, 2018 13:17

Thailand is currently Viet Nam’s largest trade partner in ASEAN, while Viet Nam is the second-largest trading partner of Thailand in ASEAN. — Photo

The third meeting of the Viet Nam-Thailand Joint Trade Committee opened on August 2 in Ha Noi with the aim of enhancing bilateral economic and trade co-operation.

The two-day event is co-chaired by Minister of Industry and Trade (MoIT) Tran Tuan Anh and Thai Commerce Minister Sontirat Sontijirawong.

At the meeting, the two sides will review their economic and trade cooperation since the previous meeting in 2015, as well as discuss plans to bring two-way trade to US$20 billion in 2020 and ensure more balanced trade in the time to come.

Measures to address obstacles in export-import activities are high on the agenda.

The meeting will also talk about ways to promote collaboration in related areas, including trade facilitation, agriculture, transport connectivity, customs, banking, investment, labour, intellectual property, regional and sub-regional co-operation.

Thailand is currently Viet Nam’s largest trade partner in the Association of Southeast Asian Nations (ASEAN), according to the Department of Asia-Africa Markets under the MoIT.

Last year, Viet Nam - Thailand trade rose to $15.3 billion from $11.5 billion in 2015, recording an average growth rate of 15.5 per cent per year.

As of the beginning of July 2018, bilateral trade reached around $8 billion, a rise of 14.7 per cent year-on-year. Viet Nam’s export revenue to Thailand hit $2.7 billion in the period, while its imports stood at $5.3 billion.

Thailand’s statistics showed that Viet Nam is the country’s second-largest trading partner in ASEAN, after Malaysia.

Thai Commerce Minister visits Big C

Thai Commerce Minister Sontirat Sontijirawong on August 3 visited Big C Thăng Long in Hà Nội to explore Vietnamese products which have potential for export to Thailand.

During the visit, the minister saw coffee, chocolate, cashew nuts, fish sauce and tea displayed by Vietnamese small- and medium-sized enterprises, as well as visiting the showcase area of off-season vegetable from farmers in Vân Hồ District, Sơn La Province.

The Thai Commerce Minister also tasted some typical Vietnamese fruits such as rambutan, avocado and grapefruit.

His visit was an encouraging sign prior to the programme titled ‘Vietnamese Goods and Tourism Week in Thailand 2018’, organised by the Vietnamese Ministry of Industry and Trade and Central Group on August 22-26 in Bangkok, Thailand. — VNS

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