Vietnam trade set to hit $25bn

Hanoi expects goal to be reached by 2030

- BANGKOK POST AND BLOOMBERG

Thailand and Vietnam have agreed to promote economic links and work together to boost bilateral trade to US$25 billion (833 billion baht) a year in the near future, Prime Minister Paetongtarn Shinawatra said.

She made the remarks at a media briefing after the 4th Thailand-Vietnam Joint Cabinet Retreat (JCR), which she co-chaired with Vietnamese Prime Minister Pham Minh Chinh during her official two-day visit, which ended yesterday.

The first JCR was initiated during the administration of Thaksin Shinawatra, her father. This retreat was the first held in 20 years.

According to government spokesperson Jirayu Houngsub, the JCR served as a platform for both sides to take stock of progress in bilateral cooperation and chart a comprehensive course of future collaboration.

Key areas of discussion included security, trade and investment, tourism, connectivity, sustainable development, and people-to-people relations.

Ms Paetongtarn said yesterday that both sides have agreed to promote trade and economic links through a plan called “Three Connects”, which will cover the areas of supply chain, local economy and the green economy.