Thailand and Vietnam Set Sights on US$25 Billion Trade Target
BANGKOK — Thailand and Vietnam have pledged to deepen their economic partnership, with a shared goal of boosting bilateral trade to US$25 billion (approximately 833 billion baht) annually in the near future, Thai Prime Minister Paetongtarn Shinawatra announced on Friday.
The announcement came at the conclusion of the 4th Thailand–Vietnam Joint Cabinet Retreat (JCR), co-chaired by Prime Minister Paetongtarn and her Vietnamese counterpart Pham Minh Chinh during her official two-day visit, which ended on May 16. The retreat marked the first of its kind in two decades, the last having taken place during the tenure of Paetongtarn’s father, former Prime Minister Thaksin Shinawatra.
Government Spokesperson Jirayu Houngsub said the meeting served as a vital forum for reviewing progress on bilateral cooperation and shaping a long-term strategy focused on areas including security, trade and investment, tourism, infrastructure connectivity, sustainable development, and people-to-people exchanges.
A key outcome was the launch of the “Three Connects” plan, which aims to enhance collaboration in supply chains, local economic development, and the green economy. Both countries expressed a strong commitment to expanding economic ties, with the Vietnamese government reportedly targeting the US$25 billion trade milestone by 2030, according to Bloomberg.
The two leaders emphasized the importance of strengthening regional ties and aligning efforts to ensure mutual prosperity and sustainability in the years ahead.
