Thailand and Vietnam vow to boost ties and economic links
Ministers discuss renewable energy, banking and regional stability
Thailand and Vietnam are doubling down on their commitment to strengthen diplomatic and economic ties, following high-level talks at the 47th ASEAN Summit in Malaysia.
In a bilateral meeting held on the sidelines of the summit, Thailand’s Foreign Minister Sihasak Phuangketkeow met with his Vietnamese counterpart Le Hoai Trung to reaffirm their dedication to advancing the two countries’ comprehensive strategic partnership.
Sihasak said both nations agreed to fast-track the implementation of their joint action plan, which aims to push forward regional collaboration and align more closely with ASEAN’s broader development goals.
“Our partnership remains progressive and focused on regional advancement.”
A key highlight of the meeting was economic cooperation, particularly in the renewable energy sector. Thai investors have shown increased interest in Vietnam’s solar and wind energy industries, driven by falling technology costs.
Sihasak confirmed that Vietnam has agreed to revisit its energy pricing structure to attract more Thai investment.
“This move signals a real opportunity for Thai businesses in Vietnam’s energy market.”
The ministers also explored deeper banking sector collaboration. Vietnam expressed interest in allowing Thai banks to operate as full-service financial institutions, a move Sihasak said would be vital in bolstering private sector involvement and long-term investment flows.
On broader regional issues, Sihasak underlined the need for greater leadership from Mekong sub-region countries—Thailand, Vietnam, Laos, and Cambodia—in steering the region’s future. While welcoming the support of external powers such as China, Japan, South Korea, and India, he emphasised that local nations must set the agenda.
“The Mekong countries should take charge of shaping their own development paths.”
During the meeting, Le also congratulated Thailand and Cambodia on their recent peace agreement aimed at reducing border tensions. Sihasak welcomed the support, noting its importance to regional stability.
“Cambodia is also Vietnam’s neighbour. He’s happy that we’ve made this agreement, which will benefit ASEAN.”
He confirmed that Cambodia has already begun withdrawing heavy weaponry from the border area, while Thailand is preparing to repatriate prisoners of war and restore diplomatic ties with Phnom Penh, reported Bangkok Post.
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