Vietnamese and Thai businesses seek to realise US$25 billion trade target by 2025

This statement was made by Sanan Angubolkul, chairman of the Thai Chamber of Commerce and president of the Thailand-Vietnam Friendship Association, at the Thailand-Vietnam Business Forum 2023 held in Bangkok on August 15.

He stated that Thailand attaches importance to the Vietnamese market, with many Thai businesses keen to invest in Vietnam. In addition to business and investment, he said Thailand has set up forums for the two countries to better understand each other in the fields of culture and tourism, creating opportunities for their businesses to access new markets and strengthen their connections.

Nguyen Van Thanh, president of the Vietnam-Thailand Friendship Association, shared that the forum provides an excellent chance for young entrepreneurs to share knowledge and gain experience in doing business, enabling a continuous and sustainable relationship to develop between the two countries.

Addressing the forum, Vietnamese Ambassador to Thailand Phan Chi Thanh affirmed that joint trade cooperation has seen strong developments as it has grown steadily over the years despite enduring many challenges.

The forum is organised in line with the "three connections" strategy adopted by senior leaders of both countries in a bid to promote the strategic economic partnership that exists between both sides, he noted.

The “three connections” strategy includes connecting the supporting industry supply; connecting the local economy, especially small and medium enterprises with the locality; connecting the sustainable development strategy among the bio-economic policies, circular economy, green economy of Thailand, and the green development strategy of Vietnam.

During the forum, many discussions were held as part of efforts to further deepen the business connectivity of both sides. Indeed, for the first time a discussion was organised for start-ups of the two countries to exchange business ideas.

Moreover, firms displayed their products and joined meetings to learn more about investment opportunities and seek ways in which to expand their distribution markets.