Bangkok (VNA) – Vietnamese President Nguyen Xuan Phuc and Thai Prime Minister Prayuth Chan-o-cha co-chaired an international press conference after their talks on November 16, providing information related to the talks and the broad guidelines for promoting all-out cooperation between the two countries.

Prime Minister Prayuth stressed the significance of President Phuc’s official visit to Thailand, saying it ushers in a new era in bilateral relations.

Thailand and Vietnam are countries that play an important economic and trade role in the region, both in terms of scale and development potential, with a trade-investment linkage system, he said.

During the talks, he said the two sides agreed to strengthen their close economic cooperation to promote socio-economic recovery in the two countries and in the region, particularly in the areas of trade, investment, transport and the development of the digital economy, said the Prime Minister.

The two parties also agreed to coordinate the implementation of a more convenient and faster form of electronic payment for goods and services between the two countries, removing trade barriers; and promoting the import and export of goods to third countries, including agricultural products, spare parts, equipment and medicines.

Vietnam and Thailand will strengthen their security-defense cooperation, including cyber and transnational security; and coordinate more closely within regional and international forums for peace, stability and prosperity in the region and globally.

President Nguyen Xuan Phuc spoke highly of the contributions from the Thai side, as well as Prime Minister Prayuth Chan-o-cha, to the fruitful development of bilateral relations.

During the talks, he said, the two sides agreed to enhance political understanding and trust through the exchange of high-level and all-level visits; organize a joint cabinet meeting co-chaired by the PMs of the two countries and other bilateral cooperation mechanisms at a convenient time. They will also coordinate to carry out the program of action implementing the Vietnam-Thailand strengthened strategic partnership for the period 2022-2027 as well as agreements signed in various fields.

Vietnam and Thailand agreed to raise bilateral trade to $25-30 billion by 2025 in a more balanced and sustainable direction; facilitating the exchange of goods and services and creating favorable conditions for companies from both countries to expand investment and trade cooperation, even in areas as new as the digital economy, green growth and sustainable development, said said the president.

Important areas of cooperation such as infrastructure connectivity, agriculture, development aid, labor, culture, tourism, business, people-to-people exchanges and cooperation between localities will be the focus of the partnership. strengthened strategic relationship between the two nations, he added.

The two parties have reached a consensus to create favorable conditions for their expatriates to live, study and do business stably in each other’s territories based on compliance with local laws.

Vietnam firmly supports Thailand to assume the APEC chairmanship in 2022, Phuc said, adding that the two sides agreed to work together to promote a united and resilient ASEAN and maintain ASEAN’s central role; and maintain the bloc’s common position on the East Sea, thereby maintaining peace, stability, safety, security, freedom of navigation and aviation in the sea based on respect for international law, including including the 1982 United Nations Convention on the Law of the Sea (UNCLOS).

Both sides also stressed the importance of cooperation in the Mekong sub-region to promote balanced and sustainable growth in the region./.