Thailand is targeting an increased trade volume with Vietnam by 20 per cent each year prior to the ASEAN Economic Community AEC in 2015. East Asian Affairs Department director-general Passakorn Siriyaphan said a survey by the ASEAN Business Council found that Vietnam ranked among the top attractive investment destinations after Indonesia.

Mr Paskorn noted that the trade volume between Thailand and Vietnam stood at US$9 billion in 2011.He reasoned that Vietnam is a new emerging market in Indochina region due to its continued growth of domestic consumption, high capacity of production and high quality of labour but low wage.

Mr Paskorn said Vietnam is also an ASEAN country member which is crucial to Thailand and share mutual benefit with the kingdom in several fields including infrastructure, energy, and agriculture. Most importantly, Vietnam and Thailand will enter the AEC in 2015.

Thailand currently ranks tenth in Vietnam’s foreign investment list, he said. A total of 224 projects have been invested, worth US$5.8 billion, mainly in real estate, tourism, hotels and hospitality, infrastructure, agriculture, chemicals, plastic, paper and food processing industries.

via Thailand targets 20% annual trade increase with Vietnam.

About the author

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Sign Up for Our Newsletter

Get notified of our weekly selection of news

You May Also Like

Citi to Sell Consumer Bank in Indonesia, Malaysia, Thailand and Vietnam to UOB Group

The agreement covers all related Citi staff, with approximately 5,000 consumer bank and supporting employees expected to transfer to UOB upon close of the proposed transaction. 

Hong Kong’s case for RCEP membership

At the moment, Hong Kong does not have bilateral trade agreements with Japan or South Korea. By joining RCEP, Hong Kong may be able to capitalise on significant new trade and investment opportunities with both these countries.