Promoting Vietnam - Thailand economic and trade cooperation through new MOU

On May 16, the Ministry of Industry and Trade of Vietnam and the Ministry of Industry and Trade of Thailand signed many new cooperation agreements to substantially promote economic and trade relations between the two countries.

Vietnam - Thailand trade promotion platform

During the two days of May 15-16, 2025, on the occasion of the official visit to Vietnam of Thai Prime Minister Paetongtarn Shinawatra, in his role as the focal point for promoting economic - trade, industrial - energy cooperation between the two countries, Deputy Minister Nguyen Hoang Long accompanied Prime Minister Pham Minh Chinh to participate in a series of high-level foreign affairs activities, including: Official welcoming ceremony, Close meeting between the two Prime Ministers; 4th meeting of the Vietnam - Thailand Joint Cabinet; witnessing the signing/exchange of cooperation documents between the two countries; Vietnam - Thailand Business Forum; receiving and working with Thai enterprises investing in Vietnam.

Specifically, on the morning of May 16, at the Presidential Palace, the official welcoming ceremony for Thai Prime Minister Paetongtarn Shinawatra was solemnly held according to the highest protocol for the head of government, chaired by Prime Minister Pham Minh Chinh .

Immediately after the welcoming ceremony, the two Prime Ministers had a short meeting, discussing in depth the bilateral relationship and strategic cooperation orientations in the coming time. The two sides agreed to continue promoting comprehensive cooperation in all fields, especially emphasizing the central role of economic - trade - investment cooperation within the framework of the Comprehensive Strategic Partnership.

Representing the Ministry of Industry and Trade, Deputy Minister Nguyen Hoang Long presented the Memorandum of Understanding on economic and trade cooperation between the Vietnamese Ministry of Industry and Trade and the Thai Ministry of Commerce. Photo: Nhat Bac/VGP

After the meeting, Deputy Minister Nguyen Hoang Long and the delegations of the two countries attended the 4th Vietnam - Thailand Joint Cabinet Meeting chaired by Prime Minister Pham Minh Chinh and Thai Prime Minister Paetongtarn Shinawatra.

This is the first meeting after more than 10 years of interruption and also the first meeting to be held, marking the official upgrade of Vietnam and Thailand's relationship to Comprehensive Strategic Partnership.

At the meeting, the two sides agreed to outline the direction of cooperation between the two countries based on three main pillars: Partnership for sustainable peace, Partnership for sustainable development and Partnership for a sustainable future. The two Prime Ministers agreed to further deepen political, defense and security cooperation; increase high-level contacts and cooperation mechanisms between the two countries.

Immediately after the conclusion of the 4th Joint Cabinet Meeting between Vietnam and Thailand, Deputy Minister Nguyen Hoang Long attended the signing ceremony and exchanged important cooperation documents between ministries, branches, localities and businesses of the two countries.

At the ceremony, Deputy Minister Nguyen Hoang Long, on behalf of the Ministry of Industry and Trade of Vietnam, presented the Memorandum of Understanding on economic and trade cooperation between the Ministry of Industry and Trade of Vietnam and the Ministry of Commerce of Thailand.

This is a document with strategic orientation significance, creating a foundation for the two sides to promote substantive cooperation initiatives in the fields of supply chain connectivity, trade promotion, and trade defense in the coming time.

The ceremony to award the Cooperation Program for the period 2026 - 2028 between the Department of Foreign Market Development and the Department of Domestic Market Management and Development (Ministry of Industry and Trade of Vietnam) with Central Group Thailand. Photo: Nhat Bac/VGP

Also at the event, the Deputy Minister witnessed the awarding ceremony of the Cooperation Program for the period 2026 - 2028 between the Department of Foreign Market Development and the Department of Domestic Market Management and Development (Ministry of Industry and Trade of Vietnam) with Central Group Thailand.

The program is designed to enhance the connection of Vietnamese goods with Thailand's modern distribution system, support Vietnamese enterprises to access regional markets and promote sustainable domestic consumption.

The signing and exchange of the above documents demonstrate the strong commitment of both sides to deepening bilateral economic and trade cooperation, while making practical contributions to the effective implementation of the newly established Comprehensive Strategic Partnership between the two countries.

Not only promoting trade but also connecting investment

On the same afternoon, Deputy Minister of Industry and Trade Nguyen Hoang Long attended the Vietnam - Thailand Business Forum with the participation of more than 300 enterprises and corporations from the two countries.

At the Forum, the two Prime Ministers delivered speeches affirming the strong support of the two countries' governments for the business community, and called on Vietnamese and Thai businesses to strengthen cooperation and effectively exploit opportunities within the framework of the newly established Comprehensive Strategic Partnership.

The event is not only a business networking forum but also contributes to promoting two-way investment flows, supporting businesses of the two countries to build common value chains, develop sustainably and integrate more deeply into regional and global markets.

After the opening session of the Forum, Deputy Minister of Industry and Trade Nguyen Hoang Long accompanied Prime Minister Pham Minh Chinh in a meeting and working session with representatives of the leaders of 7 leading Thai corporations and enterprises investing and operating in Vietnam, including: SCG Group (petrochemicals, construction materials); Charoen Pokphand - CP Group (agriculture, processed food); AMATA Group (industrial parks); WHA Group (logistics, industrial infrastructure); Central Retail Group (retail, distribution); Kasikorn Bank (KBank); Super Energy Group (renewable energy).

During the working sessions, Prime Minister Pham Minh Chinh directly directed relevant ministries and branches, including the Ministry of Industry and Trade, to coordinate in reviewing and promptly handling difficulties and problems. At the same time, he affirmed that the Vietnamese Government always welcomes and creates favorable conditions for Thai enterprises to expand their investment and business activities in Vietnam in a long-term, effective and sustainable manner.

On May 15, the two sides held a meeting of the Special Group on Economics - Trade - Investment, preparing for the 4th meeting of the Vietnam - Thailand Joint Cabinet.

Previously, on May 15, at the headquarters of the Ministry of Industry and Trade, the Ministry of Industry and Trade chaired and coordinated with relevant agencies of both sides to organize a meeting of the Specialized Group on Economics - Trade - Investment, to prepare the report contents at the 4th meeting of the Vietnam - Thailand Joint Cabinet on trade and energy cooperation, and implementation of the 3 Connectivity Strategy between the two countries.

Thailand is currently Vietnam’s largest trading partner in the ASEAN region, while Vietnam is Thailand’s second largest trading partner in ASEAN, after Malaysia. Trade relations between the two countries have been steadily and positively developing over the past time, despite fluctuations in the regional and global economy.

In 2024, the total import-export turnover between Vietnam and Thailand will reach 20.2 billion USD, an increase of 6.6% compared to 2023. In the first 4 months of 2025, bilateral trade continued to maintain strong growth momentum, with a total turnover of 6.9 billion USD, an increase of 11.2% over the same period in 2024. The two countries' senior leaders have set a target of bilateral trade reaching 25 billion USD soon in the coming time.

Hoang Giang

Source: https://congthuong.vn/thuc-day-hop-tac-kinh-te-thuong-mai-viet-nam-thai-lan-qua-mou-moi-387955.html