Vietnam -Thailand: Strengthening Business Cooperation

The meeting was attended by Mr Pham Quang Thinh- Deputy Director of International Relations Department, VCCI; Ms Usa Wijarum - Thai Commercial Counsellor in Hanoi; Ms Ladda Khaikham from Department of Industrial Promotion of Thailand (DIP); and Mr Sakchai Aunjitikul - Chairman of the Institute of Thailand Small and Medium Industrial Enterprises. A dozen of Thai companies and many Vietnamese businesses also joined the event.

 

The meeting aimed to promote cooperation of small and medium enterprises (SMEs) in the two countries; strengthen exchanges, learning and mutual assistance in industry and commerce, especially in supporting industries and automotive industry. Many businesses said they lacked information and direct contacts to push forth cooperation in automobile industry.

 

Mr Pham Quang Thinh said Vietnam - Thailand diplomatic relations thrived in all fields like economy, investment and trade. Currently, Thailand is the largest electronics importer of Vietnam, with nearly US$21.5 billion a year, followed by steel. Vietnam imports a lot from Thailand, particularly circuit switching devices, laser devices, truck parts, car exhausts and motorcycles. Thailand is a major investor in Vietnam.

 

Vietnam is now the second largest trading partner of Thailand in the Southeast Asia region and the ninth biggest on the global scale. In 2013, the two-way trade turnover was estimated at US$9.41 billion. The value is forecast to rise 5-10 percent annually. Hence, trade promotion is needed to boost up bilateral trade cooperation.

 

Ms Ladda Khaikham from the Department of Industrial Promotion of Thailand (DIP) said the ASEAN Economic Community is set to be established in 2015 and we must thus cooperate in industrial and commercial development together. Enterprises of member nations must change themselves to join in the community.

 

Mr Sakchai Aunjitikul hoped businesses of the two countries will make successful cooperation in many aspects in the future and hoped the two countries will unite and help each other to further develop.

 

At the meeting, many Vietnamese auto parts companies exchanged with Thai companies to seek business cooperation opportunities and learn about technical and technological experience. In reality, industrial cooperation between the two countries and their businesses remains limited. Thailand is strong at automobile, electronics and consumer electric industries while Vietnam is seeking to develop supporting industries and automotive industry. Hence, this is a good chance for the two nations to step up cooperation in these fields for mutual development.