Thai seminar discusses Vietnam-Thailand three-connection strategy

Thailand’s Ministry of Foreign Affairs and Chulalongkorn University have co-organised a seminar in Bangkok, discussing ways to step up Vietnam-Thailand cooperation through their three-connection strategy.

The strategy, approved by Vietnamese and Thai leaders in November 2022 to propel forward the countries' socio-economic development, highlights the three connections between their supply chains (particularly regarding oil refinery, agriculture, and the production of machinery and electronic components), their businesses and localities, and their sustainable development strategies.

Sanan Angubolkul, Chairman of the Thai Chamber of Commerce, speaks at the event (Photo: VNA)

Addressing the seminar on September 26, Vietnamese Ambassador to Thailand Pham Viet Hung and the head of the Thai ministry’s department for East Asia Piyaphak Sricharoen stressed the importance of bilateral economic, trade, investment cooperation and of enhanced connectivity, including the three-connection strategy.

The already established links between the countries’ many industrial sectors and localities are conducive to the implementation of the strategy, Piyaphak said.

Meanwhile, Hung proposed further promoting the participation of and coordination between the public, private sectors, and expert community. He expressed his hope for the early establishment of a joint working group between the two nations to discuss and carry out concrete measures aimed at advancing the strategy.

Sanan Angubolkul, Chairman of the Thai Chamber of Commerce, said Vietnam holds several advantages over Thailand, such as a young population structure, political stability, a strong anti-corruption drive, and numerous free trade agreements (FTAs) signed. He also suggested that Thai businesses seize the opportunity of Vietnam's low production costs, particularly in the food processing sector, adopt appropriate business models and comply to Vietnam’s laws and policies.

Thong Kulthanwat, President of the Thai-Vietnam Business Association, pointed out that a major challenge currently facing northeastern Thailand (bordering Laos and close to Vietnam) is transport infrastructure. Thai goods shipped to Vietnam incur transit costs through Laos, and there is no direct flight from Vietnam to the region. Therefore, Thong held that to implement the strategy, it is necessary to improve transport infrastructure connectivity, not only among Thailand, Laos, and Vietnam but also among Thailand, Laos, and Cambodia./.

World

Indonesia, India ink numerous cooperation agreements
World

Indonesia, India ink numerous cooperation agreements

Indonesian President Prabowo Subianto and Indian Prime Minister Narendra Modi emphasised their shared commitment to peace, security, and prosperity in the Indo-Pacific region, along with their determination to deepen the long-term strategic partnership between the countries.

Thai cabinet approves carbon tax to curb emissions
World

Thai cabinet approves carbon tax to curb emissions

The Thai cabinet approved a carbon tax of 200 THB (5.9 USD) per tonne of carbon emissions on January 21, as part of the country’s strategy to reduce greenhouse gas emissions, according to Deputy Finance Minister Paopoom Rojanasakul.

Japan strengthens commitment to Southeast Asia
World

Japan strengthens commitment to Southeast Asia

Japanese Prime Minister Shigeru Ishiba on January 10 met with his Malaysian counterpart Anwar Ibrahim during his visit to the Southeast Asian country, pledging to enhance cooperation in addressing urgent regional and international challenges, including tensions in the East Sea, the Middle East, and the ongoing crisis in Myanmar.