Strategic partnership between Vietnam and Thailand ranks high among regional importance, according to a scholar's perspective.
Thai scholar Kavi Chongkittavorn chats with our News Agency, shedding light on the burgeoning relationship between Thailand and Vietnam, soon to become one of Southeast Asia's most important strategic partnerships.
In an exclusive chat ahead of Thai Prime Minister Paetongtarn Shinawatra's visit to Vietnam from May 15th to 16th, Kavi sees the visit as significant, as it unfolds amidst escalating geopolitical tensions and trade conflicts reshaping the international order.
For Kavi, Vietnam and Thailand can sync up to advocate for multilateral trade and uphold good rule-based practices across economic, political, security, and socio-cultural fields. These two countries represent major trade partners, both bilaterally and within ASEAN, and they're pursuing an ambitious goal of lifting their bilateral trade from $20 billion to $25 billion yearly.
Kavi also points out joint efforts among ASEAN members to establish a regional bloc that promotes peace, stability, and shared prosperity across a world beset by uncertainties. The Thai government's approval of investment projects worth $498 million in the Isaan region, which hosts a large Vietnamese-Thai community, will bolster cross-border trade and foster closer ties between the nations.
Additionally, Kavi underlines Thailand and Vietnam as champions supporting ASEAN's centrality and solidarity, especially in trade negotiations. They're determined to have ASEAN influence multilateral trade and undermine the current protectionist policies and tariffs. In collaboration with Malaysia, ASEAN Chair, they push for a common standpoint during tariff negotiations with the US.
Thai scholar Kavi Chongkittavorn (left) speaks to our website News Agency. VNA/VNS Photo
In the digital economy, where redundancy and higher tariffs pose challenges, Thailand and Vietnam must diversify investments and trade portfolios while investing further in their digital connections. Vietnam's commitment to enhancing ties with partners such as the EU and Japan reflects a long-term vision and resilience against protectionist policies creeping across the globe.
Kavi recommends that within ASEAN, Thailand and Vietnam engage in frequent dialogue regarding regional economic and political realities, as these issues are increasingly interconnected. In his view, this collaboration will fortify both nations' strategic partnership and form a vital foundation for sustained growth and stability in Southeast Asia.
- In the digital economy, both Vietnam and Thailand need to diversify their investments and trade portfolios, while also increasing their digital connections to overcome challenges posed by redundancy and higher tariffs.
- Given the interconnected nature of regional economic and political realities, Thailand and Vietnam should engage in frequent dialogue within ASEAN to strengthen their strategic partnership and establish a solid foundation for sustained growth and stability in Southeast Asia.
- Thailand and Vietnam, as champions within ASEAN, are determined to have ASEAN influence multilateral trade and undermine current protectionist policies and tariffs, working together with Malaysia, the ASEAN Chair, to push for a common standpoint during tariff negotiations with the US.
- Vietnam's commitment to enhancing ties with partners such as the EU and Japan reflects a long-term vision and resilience against protectionist policies, a strategy that both Vietnam and Thailand can emulate to foster closer partnerships and uphold good rule-based practices across various fields.
