Hanoi: Today, the Prime Ministers of Thailand and Vietnam, Ms. Paethongtarn Shinawatra and Mr. Pham Minh Chinh, co-chaired the opening ceremony of the Thailand-Vietnam Business Forum at the Thang Long Ballroom, Melia Hanoi Hotel. The seminar, themed '1+1 = Zero Boundary on Three Connects', was attended by representatives from both countries' public and private sectors, including leading business organizations such as the Vietnam Chamber of Commerce and Industry and the Thai-Vietnam Business Council.
According to Thai News Agency, the forum signifies a new era of Thai-Vietnamese cooperation, marked by the recent upgrade to a 'Comprehensive Strategic Partnership'. This partnership aims to strengthen political, economic, and cultural ties between the two nations, with a shared objective of mutual growth and stability in a dynamic region.
The seminar highlighted the importance of enhancing the Thai-Vietnamese value chain. It provided an opportunity for both countries' private sectors to expand cooperative networks and establish a mutually beneficial economic system. A key strategy discussed was the 'Three Connects', focusing on connectivity in supply chains, local economies, and sustainable development.
Trade and investment were also key topics. Thailand is Vietnam's 7th largest global trading partner, and the largest within ASEAN, with last year's trade valued at 21 billion US dollars. The goal is to increase this to 25 billion US dollars, or approximately 875 billion baht. Thailand ranks as the 9th largest investor in Vietnam, with investments exceeding 14 billion US dollars.
The forum also addressed plans for direct flight routes and new tourism initiatives, such as cruise routes linking Singapore, Thailand, and Vietnam, aimed at boosting tourism and economic opportunities.
On sustainability, the event saw the signing of a Memorandum of Understanding between Thailand's EXIM Bank and Vietnam's BIDV Bank to support green businesses. Both nations committed to developing a cost-efficient cross-border payment system to facilitate trade and investment.
The Prime Ministers witnessed the exchange of three Memorandums of Understanding between Thai and Vietnamese private sectors, covering aviation and educational collaborations. The event concluded with scheduled meetings with Vietnam's President and General Secretary of the Communist Party.
The seminar underscored the critical role of the private sector in the comprehensive strategic partnership, with both governments committed to facilitating and supporting these initiatives for a robust and sustainable bilateral relationship.