The three-day meeting was co-chaired by Vietnamese Minister of Industry and Trade Vu Huy Hoang and his counterpart, Thai Minister of Commerce Chatchai Sarikulya.
At the event, the two sides agreed to continue strengthening bilateral co-operation and engagement in multilateral forums including the Association of Southeast Asian Nations (ASEAN), the Asia-Pacific Economic Co-operation (APEC), the World Trade Organisation (WTO) and the upcoming establishment of the ASEAN Community in late 2015.
Two-way trade revenue between Vietnam and Thailand saw an increase of 10% each year from US$8.6 billion in 2012 to US$10.8 billion in 2014, and reached over US$5.6 billion in the first half of 2015.
The Vietnamese side emphasised that the Vietnamese government and business community are interested in fostering co-operation with Thailand in the areas of trade, industry, agriculture, investment, transport, banking and intellectual property to reinforce the strategic partnership between the two countries.
Vietnam also expressed its intention to participate in the International Tripartite Rubber Council (ITRC) which currently consists of Thailand, Indonesia, and Malaysia.
At the meeting, the two sides focused discussions on specific measures to increase economic co-operation including boosting trade promotion activities; promoting the trade of agricultural products, particularly fruits; and boosting the transport connectivity under the Cross-Border Transport Agreement (CBTA) in the framework of the Greater Mekong Sub-region (GMS).
Vietnam and Thailand also agreed to build incentives and mechanisms to protect investment; consider the establishment of the Vietnam-Thailand Business Council; and adopt an action plan on Vietnam-Thailand Trade and Investment Co-operation in the 2015-2020 period, among others.
Thai Minister of Commerce Chatchai Sarikulya stressed the significance of the meeting amid the official visit to Thailand by Vietnamese Prime Minister Nguyen Tan Dung and the organisation of the third Vietnam-Thailand Joint Cabinet meeting in Bangkok on July 23.
The first Meeting of the Joint Trade Committee between Thailand and Vietnam was held in Hanoi on July 2012.
