Political relations between Vietnam-Thailand have become significantly stronger in recent years, especially after the recent Thai visit by Party General Secretary Nguyen Phu Trong during which, leaders of both nations issued a statement to upgrade the relationship to a strategic partnership.
At present, two-way trade turnover has continued to grow, up 62% on last year’s level to more than US$8.6 billion.
In the first three quarters of the year, bilateral trade value was estimated at US$5.4 billion, 14.2% higher than last year’s figure.
Thailand ranks ninth among nations and territories investing in Vietnam with 315 projects capitalized at US$6.38 billion. Vietnam has nine investment projects in Thailand with a total value of over US$12 million.
Both sides organised the first session of the Vietnam-Thailand Joint Committee last year and have continued to maintain a cooperative strategy on security and defence as well as co-ordinating sea patrols and.strengthening cooperation in cultural and social exchange.
Foreign Minister Pham Binh Minh will co-chair the session of Vietnam-Thailand Joint Committee on November 5. Accordingly, the two sides will agree on an action plan to implement a strategic partnership.
