Thailand's Deputy Prime Minister and Foreign Minister Sihasak Phuangketkeow stated that Vietnam's rapid economic growth can foster a mutually beneficial partnership with Thailand. He emphasized the importance of open trade and knowledge exchange, highlighting the complementary nature of their economies and the potential for deeper cooperation through supply chain integration and sustainable development.
The deepening economic ties and strategic partnership between Thailand and Vietnam are crucial for regional stability and prosperity within ASEAN, potentially creating a more resilient and integrated Southeast Asian economic bloc.
Thailand's Deputy Prime Minister and Foreign Minister Sihasak Phuangketkeow stated that Vietnam's rapid economic growth can create a mutually beneficial partnership with Thailand, emphasizing the importance of open trade and knowledge exchange. He highlighted that the two nations' economies are increasingly complementary, not in a zero-sum competition, with Thailand being Vietnam's largest trading partner in ASEAN and its eighth-largest foreign investor.
Speaking from Paris, Sihasak noted that bilateral trade has reached $22 billion and is on track to meet the target of $25 billion. He pointed out that many Thai exports to Vietnam are intermediate goods that are further manufactured there, forming integrated supply chains. This interconnectedness strengthens both countries' competitiveness.
The upcoming visit of Vietnamese General Secretary and President To Lam to Thailand is expected to deepen their Comprehensive Strategic Partnership. The two nations are developing an action plan centered on a 'Three Connects Strategy,' which includes connecting supply chains, local economies, and promoting sustainable development or green growth.