(VOVWORLD) - Prime Minister Nguyen Xuan Phuc began an official visit to Thailand on Thursday to seek ways to boost the bilateral strategic partnership. The 3-day visit is made at the invitation of Thai Prime Minister Prayuth Chan-o-cha.
This is Prime Minister Nguyen Xuan Phuc’s first official visit to Thailand since he took office. It takes place amidst the rapid development of bilateral friendship and strategic partnership. Last year, Vietnam and Thailand celebrated the 40th anniversary of their diplomatic ties.
Extensive strategic partnership
The Vietnam-Thailand relationship has developed steadily since Vietnam became an ASEAN member in 1995. The two countries have strengthened cooperation with Thailand taking advantage of Vietnam's rich natural resources and market-economy development. In the last two decades, they have promoted national-level programs to boost cooperation.
Vietnam is the sole country in Southeast Asia with which Thailand has established a strategic partnership. They have increased high-level delegation exchanges to strengthen mutual political trust. They have set up several joint cooperation mechanisms, notably a joint cabinet meeting, a joint committee on bilateral cooperation, and a deputy foreign minister-level political consultation. After establishing a Strategic Partnership in June, 2013, the two countries signed an action program to implement their strategic partnership in the 2014-2018 period and upgraded their ties to a Strengthened Strategic Partnership in 2015.
Both have regularly organized meetings of the Joint Working Group for Vietnam-Thailand cooperation in politics and security, strengthened cooperation in fighting environmental crimes, military aviation, navigation, marine patrols, intelligence, and deputy minister-level defense dialogues.
Thailand is Vietnam’s largest ASEAN trade partner and Vietnam is Thailand’s second largest exporter, with two-way trade worth 12.5 billion USD last year. Vietnam’s exports to Thailand totaled 3.7 billion USD. In the first half of this year, bilateral trade was valued at 7 billion USD, up 22%. The two countries aim to increase bilateral trade to 20 billion USD by 2020.
Thailand ranks 10th out of the 116 countries and territories investing in Vietnam, with 458 projects worth nearly 8.2 billion USD. The two countries have strengthened bilateral cooperation in labor. A large number of Vietnamese work in Thailand. 16 Vietnam cities have signed cooperation agreements with Thai localities. The two countries have enhanced cooperation at regional and global forums, including the UN, ASEAN, Sub-regional cooperation, and APEC.
Visit to deepen strategic partnership
The Vietnam-Thailand relationship is growing due to strategic and economic factors. The two countries are considered drivers of the regional economy, social equality and stability in the Mekong Sub-region. They both maintain economic corridors with Myanmar, Laos, and Cambodia. Their close cooperation within ASEAN and with other countries is creating momentum for regional development.