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Thailand, Vietnam to increase trade up to $18Bn

Vietnam and Thailand have agreed to increase bilateral trade by 20% annually over the next three years, Thailand and Vietnam aim for trade worth US$18 billion in 2015

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Vietnam and Thailand have agreed to increase bilateral trade by 20% annually over the next three years, Vietnamese Prime Minister Nguyen Tan Dung said yesterday

Both sides agreed to aim for trade worth US$18 billion (560 billion baht) in 2015, Mr Dung said at a joint cabinet meeting with his Thai counterpart Yingluck Shinawatra.

Thailand and Vietnam aim for trade worth US$18 billion in 2015

Thailand and Vietnam aim for trade worth US$18 billion in 2015

 

”I am taking this opportunity to increase rice and rubber trade with Vietnam, so we can work together to stabilise rice and rubber prices. This will be beneficial to both sides,”

Ms Yingluck said.

The announcement followed the second joint cabinet meeting between the two countries since 2004. An agreement to resume the meetings was reached when Ms Yingluck visited Vietnam in November last year.

Speaking at yesterday’s meeting, Ms Yingluck said cooperation in the fields of politics, economics and culture between the two countries will be strengthened ahead of the implementation of the Asean Economic Community in 2015.

The Thai delegation attending the meeting included Finance Minister Kittiratt Na-Ranong, Tourism and Sports Minister Chumpol Silpa-acha, Defence Minister Sukumpol Suwanatat, Foreign Minister Surapong Tovichakchaikul, PM’s Office Minister Niwatthamrong Boonsongpaisan, Commerce Minister Boonsong Teriyapirom, Social Development and Human Security Minister Santi Prompat, national police chief Adul Saengsingkaew and secretary-general to the prime minister Suranand Vejjajiva.

via Thailand, Vietnam to increase trade | Bangkok Post: news.

Vietnam and Thailand agreed Saturday to raise their relationship to strategic partnership. The agreement was reached by Vietnamese Prime Minister Nguyen Tan Dung and his Thai counterpart Yingluck Shinawatra at the second Vietnam-Thailand Joint Cabinet Retreat in Vietnam’s capital Hanoi.

The two PMs agreed to accelerate the signing of an agreement on labor cooperation, step up investment cooperation and connectivity in the East-West Economic Corridor, strengthen cooperation in rice exports and in culture, education and training.

Both countries reaffirmed that they will not allow any hostile individuals and forces to conduct activities in their own country against the other country, while promoting cooperation in the fight against transnational crimes and terrorism, in both bilateral and multilateral frameworks.

The two sides also discussed their cooperation in regional and international frameworks, especially the building of ASEAN Community by 2015, as well as some regional issues of mutual concern.

Vietnam also believed that Thailand as the ASEAN-China coordinator will contribute actively to promoting strategic partnership between ASEAN and China for peace, stability and development in the region.

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Trade

Thailand to increase rice exports to 6 million tons this year

National News Bureau of Thailand

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BANGKOK (NNT) – The Commerce Ministry has launched measures to increase rice exports to 6 million tons this year, valued at around 150 billion baht, with Indonesia, China, Bangladesh and Iraq set to be the main markets under government-to-government (G2G) deals.

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Singapore

UK exporters’ use of Singapore as ASEAN’s supply chain gateway boosted by new bilateral trade agreement

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UK exporters’ use of Singapore as ASEAN’s supply chain gateway boosted by new bilateral trade agreement

There was much controversy, before and after the United Kingdom’s (UK) Brexit from the European Union (EU), in talk of it adopting a free trade and manufacturing model similar to Singapore’s.

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Economics

Cross-border trade is expected to grow up to 3-6%

National News Bureau of Thailand

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BANGKOK (NNT) – Thailand’s cross-border trade is expected to recover to growth of 3-6% this year, helped by COVID-19 vaccine distribution and the global economic recovery.

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Foreign Trade Department Director-General Keerati Rushchano said cross-border trade, which includes transit trade, is likely to generate 1.36 to 1.40 trillion baht, up from 1.31 trillion baht in 2020.

According to Mr Keerati, the key risk factor that may derail border trade growth is the political chaos in Myanmar that will weaken purchasing power there and cause a delay in goods transport.

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