Vietnam, Thailand Foster Sustainable Partnership Toward Prosperous Future

9:03:30 AM | 7/2/2021

For the past 45 years (August 6, 1976 - August 6, 2021), the diplomatic relationship between Vietnam and Thailand has been developed sustainably and upgraded to an enhanced strategic partnership, intensively and extensively deepened in all fields. The bilateral cooperation is expected to be further deepened in the coming time, aiming to bring the two-way trade value to US$25 billion by 2025.

Secretary of the Hanoi Party Committee Vuong Dinh Hue receives Thai delegation led by Ambassador Tanee Sangrat, June 2, 2020

Thailand and Vietnam have a close, long-standing relationship since the two established diplomatic relations 45 years ago (August 6, 1976) and upgraded their ties to strategic partnership. The bilateral relations have grown well in all fields, especially economic ties.

Economically, although Vietnam and Thailand have similar economic structure, they have a lot of room for cooperation and mutual assistance in increasing agricultural values and joining regional value chains.

Currently, Thailand is Vietnam's largest trading partner in ASEAN. Their economic, trade and investment cooperation has been increasingly deepened, reflected in the fact that bilateral trade value in the first four months of 2021 expanded by 20% year on year amid the COVID-19 pandemic with great challenges. Thailand is the 9th largest investment partner of Vietnam.

Culturally, Vietnam and Thailand have many similarities, from food, tropical climate, popular fruits to agricultural products. More than 100,000 Thai people of Vietnamese origin living in Thailand also play an important role as a bridge to support this relationship. Today, they are successful entrepreneurs and contributors to transnational economic development.

The cultural cooperation is increasingly strengthened and enhanced by young generations’ contribution to promoting cross-cultural understanding. Thai and Vietnamese are both tonal languages, taught as formal subjects or elective subjects at universities in both countries.

Because of the traditional relationship foundations and cultural similarities, the relationship is deepened and highly unified. In international cooperation, during a phone call on May 12, Prime Minister Pham Minh Chinh and Thai Prime Minister Prayut Chan-o-cha agreed to strengthen cooperation and support each other at multilateral institutions such as the United Nations, ASEAN and APEC, promote transport connectivity and strengthen sustainable development in the Mekong Subregion. Given raging and unpredictable epidemic developments, Prime Minister Pham Minh Chinh asked Thailand to support Vietnam in hosting the ASEAN Center for Emergencies and Emerging Diseases.

At present, both countries are preparing many activities to celebrate the 45th anniversary of diplomatic relations. The two sides agreed to request relevant agencies to make cooperation in celebrating the 45th anniversary of diplomatic relations practically and efficiently; carry out measures to boost trade and post-epidemic economic recovery to bring bilateral trade value to US$25 billion by 2025.

Prime Minister Pham Minh Chinh affirmed to facilitate and encourage Thai enterprises to invest and do business in Vietnam in potential and strong sectors of both sides such as energy, tourism, high-tech agriculture, supporting industries for automotive industry and digital technology.

Vietnam and Thailand have long-term comprehensive friendly ties, have similarities and make positive contributions to the ASEAN community on the basis of a long-standing traditional relationship. Hopefully, there will be new and more prosperous development in the future.

By Giang Tu, Vietnam Business Forum