ASEAN KEY DESTINATIONS
Thailand-Vietnam govts to boost trade with each other
The governments also signed three cooperation documents - a joint statement between the Thai and Vietnamese foreign ministers, the Thailand-Vietnam Security Outlook (2012-2016), and a memorandum of understanding on the establishment of the Thai-Vietnamese Business Council.
In 2011, bilateral trade between the two nations was worth $9.08 billion (277 billion baht). Exports from Thailand were valued at $7.05 billion, while imports from Vietnam amounted to $2.03 billion.
Development and Human Security Minister Santi Promphat and Labour Minister Phadermchai Sasomsap.
This was the second joint cabinet session between the two countries following the first one held in Danang in 2004 under the Thaksin Shinawatra administration.
They also agreed to set up joint committees to push forward the strategies and agreed there should be more bilateral or multi-party talks on rice trading. Thailand also welcomed Vietnam's acceptance to join the tri-party meeting on rubber trade that Thailand will be hosting in December. Vietnam supported Thailand's role in Asean and in solving the South China Sea dispute.
Cabinet members of the two countries were divided into three groups to discuss political security, economic, socio-cultural and education issues. Sukampol led the Thai team in the first group, Kittiratt led the second group and Chumpol led the third group.
Yingluck said she thanked the Vietnamese prime minister and Cabinet members for pushing forward cooperation.
"I took this opportunity to move forward rice and rubber cooperation with Vietnam in order to jointly coordinate on stabilisation of rice and rubber prices, which is beneficial to both sides," she said at a press conference following the joint meeting.
Yingluck invited the Vietnamese prime minister to Thailand at his convenience to expand on what was discussed.She and her team left for Thailand in the evening.
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