Thailand and Vietnam have set a target of lifting bilateral trade to US$25 billion this year, with the two countries' leaders pledging to accelerate economic cooperation under their comprehensive strategic partnership during talks in Hanoi on Tuesday.
Prime Minister Anutin Charnvirakul met Vietnamese President To Lam at Tonkin Palace, following the Vietnamese leader's official visit to Thailand last week.
Both sides described the recent exchanges as highly successful and pledged to accelerate the implementation of agreements reached during earlier discussions.
Mr Lam thanked Thailand for its warm reception during his visit, while Mr Anutin said the meetings in Bangkok had already generated significant business cooperation and strengthened public goodwill between the two countries.
Reflecting Thailand's intention to deepen ties with Vietnam, Mr Anutin was accompanied by nine cabinet ministers as well as the commanders of all branches of the armed forces.
Economic cooperation featured prominently in the discussions.
The two sides reaffirmed their support for the Thailand–Vietnam Comprehensive Strategic Partnership and agreed to advance the "Three Connects" strategy through closer coordination among ministries and agencies, including through the Joint Cabinet Retreat mechanism.
Mr Lam proposed increasing bilateral trade to $25 billion before eventually expanding it to US$50 billion.
Thailand fully supported the initiative, particularly green economic development and net-zero emissions goals.
"I'm confident that the $25 billion target could be achieved within this year and potentially rise to US$30 billion in the near future," he said.
The two leaders also discussed security cooperation and law enforcement.
Vietnam proposed strengthening cooperation mechanisms between the two countries' armed forces, security agencies and maritime authorities, while exploring the possibility of an extradition treaty and closer collaboration on addressing illegal residency issues.
Thailand further reaffirmed that it would not allow its territory to be used for activities directed against friendly nations and pledged full cooperation in enforcing relevant laws.
Addressing concerns raised by Thai businesses operating in Vietnam, Mr Anutin highlighted issues relating to regulatory changes, legal enforcement and outstanding contractual payments.
Mr Lam reaffirmed Vietnam's commitment to Thai investors, describing them as important contributors to the country's economic development.
He stressed that laws would not be applied retroactively and that agencies would address the concerns of investors.
On Thailand's relations with Cambodia, Mr Anutin said both countries faced an important moment that would shape future ties, stressing that peaceful and sustainable solutions would require political will, trust and constructive dialogue.
Mr Anutin also promoted Thailand's Land Bridge project as an alternative logistics route to strengthen global supply-chain resilience.
As a symbol of friendship and environmental cooperation, Thailand also pledged to provide Vietnam with 12 cranes this year, reflecting the two countries' shared vision of "moving forward and growing together".
Separately, the defence ministers agreed to cooperate on cybersecurity and development, while tourism officials set goals of improving connectivity and attracting visitors from key markets ahead of the 50th anniversary of diplomatic relations.
