PM: Measures needed to lift Vietnam-Thailand trade to US$15 billion

Vietnam and Thailand should seek measures to raise two-way trade to US$15 billion before 2020 as the two nations still hold great potential for trade and investment cooperation, Prime Minister Nguyen Xuan Phuc told his Thai counterpart Prayuth Chan-ocha in Hanoi on March 30.

PM Nguyen Xuan Phuc (R) and his Thai counterpart Prayuth Chan-ocha
PM Nguyen Xuan Phuc (R) and his Thai counterpart Prayuth Chan-ocha

Welcoming the Thai leader’s attendance at the sixth Greater Mekong Sub-region (GMS) Summit, PM Phuc said that this reflects Thailand’s attaching importance to and its positive role in GMS cooperation, thus contributing to the success of the summit.

He agreed on the transport connectivity between Thailand, Laos and Vietnam, and affirmed to create all favourable conditions to speed up the work.

PM Phuc said he had assigned the Ministry of Industry and Trade and related ministries and sectors to remove difficulties regarding automobile imports from Thailand.

He suggested the two countries maintain close coordination in addressing illegal fishing, including the establishment of a hotline between marine law enforcement agencies of Vietnam and Thailand.

The Vietnamese leader also requested Thailand to solve bottlenecks in labour cooperation, while urging the two foreign ministries to set up a hotline between the two PMs in order to address arising problems.

For his part, PM Prayuth Chan-ocha said that he always reminds Thai enterprises to abide by the host country’s law, pay attention to employees’ living conditions and protect the environment when investing in Vietnam.

He expressed his hope that the Vietnamese Government will deal with difficulties in transport connectivity among Laos, Vietnam and Thailand in order to facilitate the flows of goods between the three nations.

The Thai PM proposed Vietnam to create favourable conditions for Thai investors to effectively invest in a wind power plant project in Bac Lieu province, as well as for Thai banks to expand presence in Vietnam.

The Thai leader agreed to step up the implementation of bilateral cooperation mechanisms in 2018, including the fourth Joint Cabinet Meeting, the third meeting of the Joint Committee on Bilateral Cooperation, and the third meeting of the Joint Trade Committee.