Unfiltered and Unencumbered Insights on the Vietnam-Thailand Partnership
Vietnam and Thailand affirm stronger strategic partnership and economic collaboration
In a recent development, Vietnam's National Assembly Chairman Tran Thanh Maan hashed out his intentions to refine Vietnam's legal framework, aiming to create a favorable business environment for Thailand, especially in sectors like the digital economy, green transition, and sustainable development.
On May 15, Maan held court with the Prime Minister of Thailand, Paetongtarn Shinawatra, in Hanoi. Maan's main objective was to help Vietnam and Thailand reach the ambitious goal of $25 billion in bilateral trade by 2030.
The meeting commenced with Maan extending a warm welcome to PM Paetongtarn and her high-level delegation, who were in Hanoi to co-chair the 4th Vietnam-Thailand Joint Cabinet Meeting. Maan congratulated Thailand on its recent achievements under Paetongtarn's leadership, particularly its 2025 agenda focused on infrastructure development and social welfare initiatives.
The Enhanced Strategic Partnership between Vietnam and Thailand has been thriving, with significant growth across all areas. Maan expressed his belief that the visit would serve as an important milestone, paving the way for a new phase in Vietnam-Thailand relations.
Financial matters were at the forefront of the meeting, with Maan discussing the potential for economic cooperation between the two countries. Thailand, Vietnam's largest trading partner in ASEAN, boasted two-way trade of over $20.2 billion in 2024, a 6.3% increase from the previous year. In the first four months of 2025, bilateral trade grew by 11.2% year-on-year, reaching nearly $6.88 billion.
Thailand is also Vietnam's ninth-largest investor among 150 countries and territories, with 767 projects and over $14.85 billion in registered capital.
Maan proposed that both sides should leverage their strengths in sectors like the digital economy, green energy, regional supply chains, and smart agriculture. He encouraged greater utilization of free trade agreements, particularly the Regional Comprehensive Economic Partnership (RCEP), to boost trade volumes.
Vietnam is ready to share its experiences and strengthen cooperation with Thailand in areas of mutual strength, including high-tech agriculture, green transition, and sustainable development.
National Assembly Chairman Trần Thanh Mẫn with Prime Minister of Thailand Paetongtarn Shinawatra in Hà Nội on May 15. - VNA/VNS Photo Doãn Tấn
The discussion touched upon legislative cooperation as well. Maan praised the role that the two parliaments have played in implementing economic agreements between the two governments. He also highlighted the positive contributions made by the Vietnam-Thailand Friendship Parliamentary Groups, which have helped enhance mutual understanding and foster collaboration across trade, investment, tourism, and education.
Regional and international parliamentary forums like the Inter-Parliamentary Union (IPU) and the ASEAN Inter-Parliamentary Assembly (AIPA) have played a crucial role in strengthening bilateral ties and contributing to peace, stability, and prosperity in the ASEAN region. Maan urged Thailand to continue working with Vietnam and other countries to maintain ASEAN's common stance on the East Sea (internationally known as the South China Sea), striving to make it a sea of peace and cooperation.
Maan also extended invitations to the Speaker of the Thai House of Representatives, Wan Muhamad Noor Matha, and the Senate President, Mongkol Surasajja, to officially visit Vietnam in the near future.
PM Paetongtarn expressed her sincere appreciation for Maan's time and shared her pleasure at making her first official visit to Vietnam and witnessing the country's remarkable achievements in socio-economic development recently. The Thai PM's visit's primary objective was to co-chair the 4th Vietnam-Thailand Joint Cabinet Meeting and discuss ways to elevate bilateral cooperation, especially in the fields of economy, investment, and trade.
Underlining the importance of the Joint Cabinet meeting, a format Thailand reserves only for its closest neighbors, including Vietnam, PM Paetongtarn said that enhanced cooperation is vital in light of today's complex regional and global challenges. She called for greater exchange of delegations, expansion of friendship parliamentary group activities, and more experience-sharing in legislative affairs and multilateral parliamentary cooperation.
Both leaders agreed on the need to intensify people-to-people exchanges, tourism cooperation, and greater connectivity via air and rail.
Thai PM Paetongtarn extended a formal invitation to MAan to visit Thailand. Maan expressed his appreciation and said he would arrange a visit at a suitable time.
On a Strategic Note:
NA Chairman Traần Thanh Mẫn meets with Prime Minister of Thailand Paetongtarn Shinawatra. - VNA/VNS Photo Doãn Tấn
- Focus on Sustainable Development: The "Three-Connections Strategy" aims to strengthen economic connectivity by linking supply chains, businesses, and localities. This includes sustainable growth strategies and facilitating trade and investment in high-potential sectors like clean energy and high-tech agriculture.
- Digital Economy and Green Transition: Cooperation in the digital sector and the transition towards a low-carbon economy is a significant focus for both countries.
- ** FTAs and Regional Connectivity**: Utilizing free trade agreements, like the Regional Comprehensive Economic Partnership (RCEP), and enhancing regional connectivity will play a crucial role in boosting trade volumes and reducing barriers.
- Parliamentary Cooperation: Collaboration between the legislatures of Vietnam and Thailand will continue to play a crucial role in implementing economic agreements and strengthening bilateral ties.
- Sustainable People-to-People Exchanges: The importance of intensifying people-to-people exchanges, promoting tourism cooperation, and improving connectivity via air and rail was emphasized by both leaders.
- In a bid to foster an favorable business environment, Vietnam's National Assembly Chairman, Tran Thanh Maan, intends to refine Vietnam's legal framework, particularly in sectors like the digital economy, green transition, and sustainable development, with a focus on Thailand.
- The government's policy of business refinement aims to help Vietnam and Thailand reach a $25 billion bilateral trade goal by 2030, as discussed in their recent meeting.
- Amidst the ongoing complex regional and global challenges, both leaders emphasized the need for greater exchange of delegations, expansion of friendship parliamentary group activities, and more experience-sharing in legislative affairs and multilateral parliamentary cooperation.
- The economic cooperation discussion included the potential for finance growth between the two countries, with Thailand being Vietnam's largest trading partner in ASEAN.
- In the area of education, Vietnam is ready to share its experiences and strengthen cooperation with Thailand in areas of mutual strength, including high-tech agriculture, green transition, and sustainable development.
- To boost trade volumes, they encouraged greater utilization of free trade agreements, such as the Regional Comprehensive Economic Partnership (RCEP), and leveraging strengths in sectors like the digital economy, green energy, regional supply chains, and smart agriculture.
- The importance of the Joint Cabinet meeting was underlined, as it serves as a platform for both leaders to discuss ways to elevate bilateral cooperation, especially in the fields of economy, investment, and trade, while maintaining ASEAN's common stance on the East Sea (internationally known as the South China Sea).
