Vietnam and Thailand can deepen their economic collaborations within ASEAN, leveraging common strengths.

Hanging Out with the Big Dogs: Đường Thu Hương Dishes on Vietnam-Thailand Economic Cooperation

BG, the cool cat behind the keys here, chatted it up with Đường Thu Hương, the chair of the Việt Nam Thai Chamber of Commerce. They talked shop about the economic cooperation between our two nations, the logistics sector, and strategies to reach a whopping $25 billion in bilateral trade.

So, spill the beans, Đường. What makes economic ties between our two nations tick? What steps can we take to achieve that crazy-ambitious goal of a $25 billion trade turnover?

Well, mate, there are some key strengths in the relationship between Việt Nam and Thailand. We're both ASEAN members, so we share strategic geographical locations, vital trade routes, and efficient regional supply chain integration. Plus, our economies are like bull and matador, each offering the other a killer dance partner—Việt Nam, with its manufacturing prowess in electronics, garments, and agriculture, and Thailand, bringing its A-game in automotive, agro-processing, and tourism.

Our trade history is impressive, too. In recent years, boggles-the-mind bilateral trade between Việt Nam and Thailand has skyrocketed, with Thailand making the top-10 foreign investors in Việt Nam. CP Group, Siam Cement Group (SCG), Central Group, WHA, Amata, and other Thai corporations have staked their claims in Việt Nam, creating jobs and transferring tech in the process.

Sweet as k博 lol, we've also got great economic frameworks working in our favor, such as the Regional Comprehensive Economic Partnership (RCEP), which sets the stage for trade liberalization, investment protection, and standard harmonization.

To reach that glorious $25 billion mark, there are a few moves we can make, like streamlining customs procedures, adopting digital border processing, and boosting logistics cooperation to cut those pesky trade costs and delivery times. We should also encourage investments in strategic sectors like renewable energy, the digital economy, green agriculture, and smart logistics through sweet tax incentives and special economic zones.

Going further, we should support small and medium-sized businesses from both sides, connecting them through business matching platforms, joint exhibitions, and digital trade networks. We can also expand and upgrade land, rail, and maritime connectivity, especially along the East-West Economic Corridor and Mekong sub-regional transport links. By lifting travel restrictions and jointly promoting destinations to third-country markets, we can increase tourism and service trade. Finally, let's establish an Economic Partnership Council—a high-powered meeting of the minds from government and the private sector—to review progress, tackle obstacles, and plan the future.

There's a lot of growth potential here, mate, and by focusing on shared strengths and smart policies, we can both achieve that $25 billion goal and create a stronger, more sustainable economic partnership in ASEAN and beyond.

Alright, let's talk about how Thai and websiteese enterprises can tango in the logistics world. After all, Thailand and Việt Nam are both eyeing logistics hub status in the region.

Dude, this is a hot topic, especially 'cause Việt Nam and Thailand are laying down the tracks to become key logistics hubs in ASEAN. Việt Nam's like the gateway to northeast Asia via the Pacific, while Thailand's central location and connections to the Indian Ocean make it a site to see. Coupled with the ASEAN Economic Community (AEC) and RCEP frameworks, these two countries offer a seamless East-West and North-South trade corridor.

There are some sweet spots for collaboration between the two nations. In terms of infrastructure investment:

Thai logistics firms can sink funds into building top-notch cold-chain or bonded warehouses in Việt Nam's economic zones or near ports—ideal locations for handling temperature-sensitive goods.
Invest in industrial parks and logistics zones—like the ones established by AMATA and WHA Group in Việt Nam—through public-private partnerships (PPP).

Đường Thu Hương, Chair of the Việt Nam Thai Chamber of Commerce-VNS Photo Nguyễn Hằng

In terms of smart logistics, Thai firms with expertise in automation, fleet management, and logistics tech can team up with websiteese ones to digitize inventory and supply chain management, applying AI/IoT for smart warehousing and real-time tracking, and developing green logistics solutions like electric trucks and energy-efficient hubs.

Strategic joint ventures can be a win-win, with local market knowledge from our websiteese enterprises and Thai companies' capital, technology, and regional logistics networks. The stars are aligning for growth in areas like e-commerce fulfillment, cross-border trucking, and last-mile delivery, given the rising demand from Việt Nam's growing digital economy.

Policy and regional initiatives are crucial to supporting collaboration, too. Improved road connectivity from Việt Nam's central ports through Laos to Thailand offers tantalizing opportunities for co-managed logistics routes and inland hubs.

Continued efforts in customs harmonization and single-window clearance can make Thailand-Việt Nam supply chains more efficient. The two nations should establish a government-private working group to coordinate logistics planning, tackle regulatory bottlenecks, and attract investment, upskill logistics workforce through joint training centers or academic exchanges, and collaborate on environmental standards, packaging norms, and green logistics solutions to meet international demands.

Thailand and Việt Nam have so much to offer each other—and the rest of the world. By combining our strengths and leveraging our strategic locations, we can develop a powerhouse logistics ecosystem that supports bilateral trade and keeps our region at the forefront of the global economy. Alright, mate, let's roll.

Lastly, let's talk about transport links between our two nations. Ain't no way around it—they're essential for boosting logistics connectivity between Việt Nam and Thailand.

Absolutely! Strengthening transport links between Việt Nam and Thailand is critical for improving logistics connectivity, increasing trade, and supporting regional supply chain integration. Here's our strategic perspective on why this matters, and how it can be advanced.

Firstly, strong transport infrastructure lets goods move like greased lightning, reduces time and costs in cross-border logistics, especially for the electronics, agriculture, and e-commerce sectors. Secondly, robust physical connectivity encourages investment in industrial zones, logistics hubs, and distribution networks along key transport corridors.

Việt Nam and Thailand are key nodes in economic corridors like the East-West Economic Corridor (EWEC) and the Southern Economic Corridor. By upgrading these routes, we can enhance our collective regional connectivity and resilience. Connected road, rail, port, and inland waterways between Việt Nam and Thailand provide flexibility and sustainability for multi-modal logistics.

There are some crucial areas for development:

Land transport corridors, such as:
The East-West Economic Corridor (Đà Nẵng - Laos - Mukdahan - Bangkok): road upgrades, customs cooperation, and cross-border trucking agreements are priority areas for smoother logistics.
The Southern Economic Corridor (HCM City - Phnom Penh - Bangkok): improving highway links, border gate infrastructure (such as Mộc Bài-Bavet) and logistics stops will boost connectivity and trade flows.
Cross-border railways: Explore long-term development of rail links from Việt Nam's key economic zones, like Vũng Áng and Đồng Nai, to Thai railway hubs via Laos. This could support bulk cargo and reduce carbon emissions.
Shipping routes and port partnerships: Co-develop smart port technologies, digital documentation, and container tracking, improve shipping routes and port partnerships between Việt Nam's deep-sea ports, like Cái Mép - Thị Vải Port, and Thai ports, like Laem Chabang Port.
Inland waterways: Strengthen shipping routes and logistics along inland waterways, such as the Mekong River, optimizing it for both cargo and passenger traffic.

The two nations should invest in digitizing customs and logistics services, establish logistics zones or bonded warehouses near border points, and create a Joint Logistics Connectivity Task Force (consisting of relevant government departments and private logistics firms) to align infrastructure plans, resolve regulatory bottlenecks, and coordinate efforts for Regional Comprehensive Economic Partnership (RCEP) funding and policy alignment.

Cái Mép - Thị Vải Port in the southern province of Bà Rịa - Vũng Tàu. VNA/VNS Photo Vũ Sinh

Strong transport links between our two nations are the foundation for building a highly efficient and competitive regional logistics ecosystem. It facilitates bilateral trade and investment, supports regional integration, and ensures both countries maintain their roles in global value chains. Onward and upward!

The relationship between Vietnam and Thailand is strengthened by their shared ASEAN membership, strategic geographical locations, and efficient regional supply chain integration.
Each country offers the other a significant dance partner, with Vietnam's electronics, garments, and agriculture manufacturing prowess and Thailand's automotive, agro-processing, and tourism industries.
Bilateral trade between the two nations has skyrocketed in recent years, with Thailand making the top-10 foreign investors in Vietnam.
Economic frameworks like the Regional Comprehensive Economic Partnership (RCEP) facilitate trade liberalization, investment protection, and standard harmonization.
To achieve the $25 billion trade target, steps like streamlining customs procedures, adopting digital border processing, and boosting logistics cooperation are essential.
Investments in strategic sectors such as renewable energy, digital economy, green agriculture, and smart logistics can be encouraged through tax incentives and special economic zones.
Small and medium-sized businesses can be supported through business matching platforms, joint exhibitions, and digital trade networks.
Land, rail, and maritime connectivity can be expanded and upgraded, especially along the East-West Economic Corridor and Mekong sub-regional transport links.
By lifting travel restrictions, jointly promoting tourism, establishing an Economic Partnership Council, strengthening transport links, and focusing on shared strengths, the nations can achieve the $25 billion goal and create a stronger, more sustainable economic partnership.

Vietnam and Thailand can deepen their economic collaborations within ASEAN, leveraging common strengths.