VN, Thailand vow to raise two-way trade value to US$20 bln

PM Nguyen Xuan Phuc and his Thai counterpart Prayut Chan-o-cha affirmed their resolve to increase the two-way trade volume to US$20 billion by 2020 during their talks in Bangkok on Thursday.

The two PMs committed to mutual support to turn the two countries into trade and investment hubs in the region and facilitating trade exchanges between the two countries.

Both sides agreed to foster the exchange of delegations at all levels and effectively operate the bilateral cooperation mechanisms, including early organization of the 3rd meeting of the joint committee for bilateral cooperation, the 3rd ministerial meeting, the 3rd meeting of the trade commerce committee, and especially the 4th meeting of the Joint Cabinet.

Underlining defense-security cooperation as one of the pillars of the Viet Nam-Thailand Strategic Partnership, the two PMs agreed to further exchange viewpoints and policies and strengthen cooperation between armed forces.

The two sides also reaffirmed their commitment not to allow any individual and organization to use the territory of one country to conduct activities against the other.

Both countries will enhance cooperation to address maritime issues, accelerate negotiations on agreement on extradition and mutual legal assistance in criminal matters.

The two nations underscored the importance of fostering cooperation and experience sharing in a bid to prevent illegal fishing

Thai PM Prayut Chan-o-cha confirmed that he will attend the 2017 APEC economic leaders' week in Da Nang City this November and voiced support for Viet Nam's initiatives during the APEC year.

The two PMs pledged to continue close coordination between themselves and with other ASEAN member States to consolidate solidarity, hold firm to positions and promote the central role of ASEAN over issues related to peace and security in the region.

They reaffirmed the importance of maintaining peace, security and stability as well as maritime safety and freedom in the East Sea; stressed the need for relevant parties to ensure full and effective implementation of the Declaration on the Conduct of Parties in the East Sea, build up, maintain and improve trust, respect self-restraint principles, settle differences and disputes through peaceful measures in line with international law, including the 1982 UN Convention on the Law of the Sea.

The two also leaders reiterated their support for ASEAN and China to soon reach a Code of Conduct in the East Sea./.

Source: Online Newspaper of the Government of the Socialist Republic of Vietnam