(VOVworld) - Vietnam and Thailand agreed to enhance their economic connectivity through the action plan on bilateral trade and investment cooperation, to augment their trade to US$20 billion by 2020.

Vietnamese Deputy Prime Minister and Foreign Minister Pham Binh Minh and Thai Foreign Minister Don Pramudwinai (Photo: VNA)

The consensus was reached during talks between Vietnamese Deputy Prime Minister and Foreign Minister Pham Binh Minh and Thai Foreign Minister Don Pramudwinai in Hanoi on Friday. They noted that economic, trade and investment cooperation are currently important pillars in the two Southeast Asian nations’ strategic partnership. They highly valued the rapid and effective development of bilateral cooperation, as seen through tightened links in politics and diplomacy, security and defence, culture, education and tourism, and between their ministries and localities. Deputy Prime Minister and Foreign Minister Pham Binh Minh: “I believe that the Thai Foreign Minister’s visit will boost bilateral ties when both countries celebrate their 40^thanniversary of diplomatic relations this year. Vietnam and Thailand have enjoyed time honored relations and we have upgraded them to strategic partnership to promote cooperation in all areas.” 

They agreed to maintain all-level delegation exchanges, while effectively realising the outcomes of the third joint Cabinet meeting in July 2015, and the action programme to implement the Vietnam – Thailand strategic partnership between 2014 – 2018.  They will also work together to review the execution of the agreements reached at the second meeting of the joint committee on bilateral cooperation in March 2015, and prepare for the third meeting. 

Minh requested that Thailand continues promoting its role and coordinating closely with Vietnam and other ASEAN countries to ensure ASEAN’s unity and common stance on regional and international matters, including the East Sea issue. It should continue efforts to maintain peace, stability, security and safety of navigation and overflight, push for the peaceful settlement of disputes on the basis of internationally recognised principles, including the 1982 UN Convention on the Law of the Sea, urge relevant parties to fully respect legal and diplomatic processes and seriously comply with the Declaration on the Conduct of Parties in the East Sea (DOC), and accelerate the building of a code of conduct in the waters (COC). Both countries also need to intensify cooperation with each other, with other countries and with international organisations in developing, mananging and sustainably using the Mekong River’s water resources in line with international practice, so as to ensure the interests of the nations in the lower river.