BANGKOK – Thailand and Vietnam have agreed to raise political and economic relations to the highest level, a comprehensive strategic partnership, the two countries’ prime ministers announced on Friday.
Vietnam’s Pham Minh Chinh and Thailand’s Paetongtarn Shinawatra’s announcement came in a news conference following their meeting in Hanoi.
“This is not only a political statement, representing a symbolic milestone, but also a strategic commitment, affirming a new breakthrough in the content and depth of cooperation,” Vietnam’s Chinh said.
The two leaders also pledged to lift bilateral trade to US$25 billion by 2030, focusing on areas such as clean energy, the digital economy and high-tech agriculture, according to a statement released after their meeting.
Two-way trade reached US$20.2 billion last year, a rise of 6.3% on 2023, according to the Vietnamese government. Vietnam was Thailand’s sixth largest export destination in 2024, Thailand was Vietnam’s ninth biggest.
For both, the number one export market last year was the U.S. and the two countries are coming under growing pressure from Washington to cut their trade surpluses: nearly US$46 billion for Thailand last year and a record US$123 billion for Vietnam. On April 2, President Trump announced he was imposing 36% tariffs on Thailand and 46% on Vietnam, before cutting them to 10% for three months to allow for trade talks.
Chinh and Paetongtarn also focused on regional security in Friday’s meeting, agreeing to strengthen defense ties to counter any territorial challenges in the South China Sea. They called for the swift adoption of an international Code of Conduct in the disputed waters which are 90% claimed by China and also partly contested by Vietnam, the Philippines, Taiwan, Brunei and Malaysia.
The two also agreed to cooperate on information sharing to fight transnational crimes such as drug and human trafficking, and online scams.
Thailand is the 13th country to agree a comprehensive strategic partnership with Vietnam. Others include the United State, China, Russia and Japan.