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Thailand and Vietnam targets 20% trade increase by 2015

Thailand is targeting an increased trade volume with Vietnam by 20 per cent each year prior to the ASEAN Economic Community AEC in 2015

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Thailand will focus on strengthening relations and cooperation with its neighbouring countries

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.

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