Thailand and Vietnam strategic partnership for mutual growth

Thailand and Vietnam have forged a Comprehensive Strategic Partnership, a relationship focusing on meeting bilateral trade objectives, implementing sustainable development plans, strengthening political-diplomatic and defence security collaboration, and enhancing benefits in people-to-people areas.

The announcement was made during the 5th Joint Commission on Thailand-Vietnam Bilateral Cooperation held in Bangkok, co-chaired by Thailand’s Foreign Minister, Parnpree Bahiddhanukara, and Vietnam’s Foreign Minister, Bui Thanh Son. This partnership marks Thailand as the first ASEAN country to establish such an alliance with Vietnam, said Parnpree.

“As Comprehensive Strategic Partners, we agreed to work together to bring peace, stability, and prosperity not only to our countries but also to the whole region.”

The ministers discussed various trade measures to boost market access between both nations, such as increasing the import quota of livestock and agreeing on mutual recognition arrangements for seasonal local products. Thailand presently stands as the 9th largest foreign investor in Vietnam, with Vietnam emerging as a significant investor in Thailand.

Strong trust is increasingly prominent, expressed across every channel and level, commented Son.

The ministers agreed on the increasing investments between the two nations. To further bolster their economic partnership, both countries plan to work together to connect supply chains, local economies, and sustainable development strategies.

Growth areas

They emphasised cooperation in new sectors such as science, technology, the green economy, circular economy, digital economy, innovation ecosystem development, equitable energy transition, e-government, cybersecurity, and smart cities for mutual growth and sustainable development.

Additionally, they will focus on areas like education and culture, promoting historical and cultural values, connecting tourism, and other creative and sustainable tourism models.

The ministers also discussed plans to enhance transportation and connectivity across air, land, and sea between Thailand, Vietnam, Laos, and Cambodia. They intend to promote the region as a safe destination for single travellers under the concept of Six Countries, One Destination.

Local-to-local partnerships are to be strengthened to benefit local businesses and improve the livelihoods of people in both countries. Furthermore, they share the common perspective that ASEAN should expedite cooperation in areas of digitalisation, green economy, and sustainability.

Regarding the crisis in Myanmar, both Thailand and Vietnam expressed their desire for a peaceful, stable, and unified Myanmar. They also shared concerns over the worsening situation on the Thai-Myanmar border and called for an urgent ASEAN joint statement on the current situation.

Son described that he is fully confident that the excellent outcome of this meeting will play an important role in advancing, broadening, deepening, and adding substance to the Enhanced Strategic Partnership between Vietnam and Thailand, and bring about real benefits to our two peoples.

He considered the meeting a success and described it as an extremely frank, effective, and concrete discussion. Parnpree revealed how Foreign Minister Son and he are pleased with the progress of their bilateral relations. Both of them recognise that there is more to be done.