Thailand and Vietnam have agreed to promote economic links and work together to boost bilateral trade to US$25 billion a year, from $20 billion now, in the near future, Prime Minister Paetongtarn Shinawatra said.
She made the remarks at a media briefing after the 4th Thailand–Vietnam Joint Cabinet Retreat, which she co-chaired with Vietnamese Prime Minister Pham Minh Chinh during her official two-day visit, which ended on Friday.
The first retreat was initiated during the administration of Thaksin Shinawatra, her father. This retreat was the first held in 20 years.
According to government spokesperson Jirayu Houngsub, the meeting served as a platform for both sides to take stock of progress in bilateral cooperation and chart a comprehensive course of future collaboration.
Key areas of discussion included security, trade and investment, tourism, connectivity, sustainable development, and people-to-people relations.
Ms Paetongtarn said on Friday that both sides have agreed to promote trade and economic links through a plan called "Three Connects", which will cover the areas of supply chain, local economy and the green economy.
The two sides aim to achieve a target of increasing bilateral trade to $25 billion as quickly as possible, she said. Bloomberg quoted the Vietnamese government as saying this target should be achieved by 2030.
Ms Paetongtarn said they also agreed to push for a Joint Trade Committee meeting and back more trade in livestock and agricultural products, as well as facilitate the transportation of Thai goods to China via Vietnam.
Ms Paetongtarn also thanked Hanoi for supporting Thai investors in Vietnam and said that Thailand is ready to welcome Vietnamese investors who are interested in expanding their businesses in the kingdom.
According to the National Broadcasting Services of Thailand, the country is considering direct flight connections between the northeastern region and Vietnam to promote tourism and other forms of contact.
Ms Paetongtarn said during her visit that a plan to open new routes in these areas would drive tourism and promote transport, the state broadcaster said without giving details.
Thailand also planned to promote more land transport between the two countries via Laos as well as water transport between Thailand, Cambodia and Vietnam, she said.
About 1 million Vietnamese tourists visit Thailand annually, and 500,000 travellers from Thailand go to Vietnam every year, with Hue, Danang, Dalat and Sapa among their favourite destinations, according to the Thai government.
Ms Paetongtarn said Thailand and Vietnam have upgraded their ties to the level of a comprehensive strategic partnership, which is a key achievement at a time when the world is facing such uncertainty and volatility.
She said both sides agreed to promote regular high-level exchanges, with Vietnam invited to the Mekong-Lancang Summit in Thailand later this year as the two sides prepare to celebrate 50 years of diplomatic ties next year.
They also pledged to boost cooperation in security affairs, particularly cracking down on drug trafficking, call centre scams, online scams, human trafficking, and illegal fishing, the premier said.
Ms Paetongtarn highlighted bilateral cooperation in areas that have yielded tangible outcomes, including cracking down on precursors used in the manufacturing of illicit drugs and exchanging intelligence to combat cross-border crime.
Moreover, she said Thailand and Vietnam agreed to upgrade their cooperation in both the digital economy and cross-border QR payments, allowing users to pay for goods and services in a different country using their mobile banking app by scanning a QR code.
The two prime ministers also witnessed the signing of several cooperation documents in trade, anti-narcotics, banking, education and aviation.
Thailand is Vietnam's largest trading partner in Asean.