BANGKOK (The Nation/Asia News Network): The private sectors of Thailand and Vietnam have set an ambitious target to increase bilateral trade to US$25 billion by 2025 in order to benefit both countries and the entire region.
The remarks came when the Thailand-Vietnam Friendship Association hosted the Thailand-Vietnam Business Forum 2023 on Tuesday at C Asean in Bangkok. The theme of the forum was "Strengthening Thai-Vietnamese Relations Under the Concept 1+1 = Zero Boundary".
The event's objective was to provide initiatives that bridge connections beneficial to both countries, including business, cultural, and civilian relationships, Sanan Angubolkul, chairman of Thai Chamber of Commerce and president of Thailand-Vietnam Friendship Association noted.
In his opening speech, he said the new target was to commemorate the 10th anniversary of the establishment of strategic partnerships and the beginning of a new era of stronger ties to achieve peace, stability, and prosperity together.
He noted that the focus of this year's forum was on promoting young entrepreneurs and startups, which he described as not only the heart and soul of the future economy, but also the driving force that would undoubtedly lead both countries towards transformative innovation.
"This involves investment in startup businesses, as well as sharing knowledge, experience and opportunities to network in the public sector, thus enabling a continuous and sustainable relationship between the two countries," he said.
He pointed out that the forum had brought together leading businesses and experts to share and discuss challenges and opportunities for enhancing Thailand-Vietnam cross-border trade.
"The Thai private sector is committed to driving trade and close joint investment in a strategic partnership in which both countries are trading partners, not competitors. Vietnam is regarded as a true friend of Thailand, and both countries would continue to support each other's strengths," he said.
The Thailand-Vietnam Friendship Association revealed that the agency had recently formed a working group called Team Thailand Plus. The group will assist the Thai private sector in trading and investing in Vietnam efficiently, while also lowering trade barriers and promoting a sustainable green economy.
Nguyen Van Thanh, chairman of the Vietnam-Thailand Friendship Association, said during the forum's opening session that Vietnam-Thailand relations had developed satisfactorily into a "strategic partnership”, with friendly and comprehensive cooperation.
However, he noted that in this period of rapid and unpredictable regional and international change, more work is needed to strengthen the Vietnam-Thailand relationship.
This business forum is part of the ongoing efforts to consolidate and strengthen the friendship and relationship between the two associations and the people of the two countries, he said.
Vietnam's Congress recently voted on the entire term's working agenda and elected a new executive committee to run the Vietnam-Thailand Friendship Association.
Nguyen Van Thanh described the move as a timely arrangement as the two countries develop their potential cooperation in broad areas.
"I wish that the cooperation between the Vietnam-Thailand Friendship Association and the Thailand-Vietnam Friendship Association would grow stronger and stronger, making practical contributions to consolidating and strengthening the strategic partnership between the two countries," he said.
Vietnam looks forward to welcoming Thai delegations in Da Nang in September, he added.
Aside from the seminar, the forum featured inter-governmental meetings, discussions, product exhibitions and presentations, pitching, business meetings, business matchmaking, and networking events.
