Prime Minister Pham Minh Chinh has proposed that Vietnam and Thailand coordinate to raise two-way trade turnover to $25 billion, during a reception for visiting Thai Deputy Prime Minister and Foreign Minister Parnpree Bahiddha-Nukara in Hanoi on October 25, the Government News has reported.

He also recommended that the two sides actively execute the action plan on implementing the Vietnam - Thailand Enhanced Strategic Partnership for 2022-2027, promote trade development and investment expansion, effectively put in place the “Three Connections” initiative that covers supply chains, economies, businesses, and localities, and cooperate in new fields such as digital transformation and green energy.

The Prime Minister proposed that Thailand create more favorable conditions for trade exchanges between the two countries and limit trade barriers.

Deputy Prime Minister Parnpree said Thai businesses are confident in Vietnam’s potential and investment environment and want to expand existing investments in the country.

He called on the Vietnamese Government to further support Thai investors in implementing projects, including those in energy, and confirmed that the Thai Government will help foreign businesses, including Vietnamese enterprises, expand their investment Thailand.

Thailand is Vietnam’s largest trade partner in ASEAN and its ninth-largest foreign investor.