Vietnam, Thailand target 20 bln USD trade in 2020

Vietnamese Prime Minister Nguyen Xuan Phuc on Thursday called on Vietnam and Thailand to step up their efforts to bring bilateral trade to 20 billion U.S. dollars in 2020.

At a reception for Thai Deputy Prime Minister Thanasak Patimaprakorn in Vietnam's capital Hanoi, the Vietnamese prime minister suggested the two countries, as the world's biggest rice exporters, partner with each other to keep rice prices beneficial to both sides' farmers, reported Vietnam's state-run news agency VNA.

A boost should be given to collaboration in trade and investment, Phuc said, citing opportunities awaiting Thai investors after Vietnam engages in new-generation free trade agreements.

Phuc proposed the two countries join hands in culture, national defense and security while strengthening bilateral ties in people-to-people exchanges.

The Vietnamese prime minister also urged the two countries to team up with other countries and organizations in the management and sustainable, effective use of Mekong River water resources, reported VNA.

For his part, the Thai deputy prime minister expressed his hope that the Vietnamese government will create favorable conditions for Thai businesses in the country, saying that the Thai government encourages local investors to run long-term and sustainable business operation in Vietnam.

Patimaprakorn conveyed Thai PM Prayuth Chan-ocha's invitation to Phuc to pay a visit to Thailand on the occasion of the 40th anniversary of diplomatic ties between the two countries. Vietnam and Thailand established diplomatic relations in August 1976.

Also on Thursday, the Thai deputy prime minister met with his Vietnamese counterpart Vu Duc Dam during which they shared the view that Vietnam and Thailand hold substantial potential for cooperation in economy, trade and investment that can bring bilateral trade to 20 billion U.S. dollars in 2020, reported VNA.

The Thai official is visiting Vietnam from Thursday to Sunday. Enditem