Vietnam and Thailand Forge Comprehensive Strategic Partnership

Vietnam and Thailand have taken a significant step in their diplomatic relations by upgrading their ties to a comprehensive strategic partnership. This major development was announced following a meeting between Thai Prime Minister Paetongtarn Shinawatra and her Vietnamese counterpart Pham Minh Chinh in Hanoi.

Currently, Thailand is Vietnam's largest trading partner among ASEAN members, with bilateral trade exceeding $20 billion last year. Moreover, Thai investments in Vietnam have surpassed $14 billion. Both leaders also witnessed the signing of numerous cooperation agreements spanning sectors such as trade, anti-narcotics, banking, education, and aviation.

The two countries have set an ambitious goal to increase their bilateral trade to $25 billion annually by 2030, thereby strengthening their economic ties further. This new strategic partnership is seen as a pivotal move towards enhancing regional cooperation and mutual prosperity.

(With inputs from agencies.)