Vietnam, Thailand Poised for Deeper Economic Cooperation

Vietnamese Prime Minister Le Minh Hung stated on September 15 that Vietnam and Thailand have ample room to support each other, complement each other's economies, and develop together, given the complementary strengths of their economies. This remark underscores Vietnam's emphasis on strengthening economic ties within the ASEAN (Association of Southeast Asian Nations) region. The meeting with King Maha Vajiralongkorn Phra Vajiraklaochaoyuhua and Queen Suthida Bajrasudhabimalalakshana of Thailand, who are on a state visit to Vietnam, provided an opportunity to further deepen bilateral relations. Economically, leveraging the differences in industrial structures and market needs between the two countries could lead to enhanced supply chain integration and joint market development. Under its one-party system, Vietnam prioritizes economic growth and views cooperation with ASEAN nations as a key pillar of its foreign and economic policies. Thailand is a crucial partner for Vietnam within ASEAN, and the high degree of complementarity in their economic scale and industrial structures suggests that future deepened cooperation will contribute to the further development of both countries' economies. Strengthening collaboration, particularly in manufacturing and the digital economy, could invigorate the regional economy.