At an invitation of Prime Minister Pham Minh Chinh, Prime Minister of the Kingdom of Thailand Paetongtarn Shinawatra lead a high-ranking delegation from Royal Thai Government to pay an official visit to Vietnam and co-chair the 4th Meeting of Vietnam - Thailand Joint Cabinet from May 15 - 16, 2025.
The visit takes place at a time when the two countries are looking forward to the 50th anniversary of establishing diplomatic relations (1976 - 2026), an important milestone in the history of bilateral relations.
Over the past 50 years, relationship between Vietnam and Thailand has developed positively, in which economy and trade are one of key pillars of cooperation.
Citing statistics from Vietnam Customs, Vietnam Trade Office in Thailand said that Thailand is Vietnam's largest trading partner in ASEAN, accounting for 24% of Vietnam's import-export turnover to this region.
In 2024, Vietnam's total import-export turnover with Thailand will reach 20.2 billion USD, up 6.6% over the same period in 2023.
Some traditional Vietnamese goods exported to Thailand will maintain high growth in 2024 such as: Textiles and garments (reaching 289 million USD, up 23.8%); Vegetables and fruits (reaching 278.2 million USD, up 73.7%); Seafood (reaching 258.6 million USD, up 2.6%); Coffee (reaching 170.3 million USD, up 51.8%)...
On contrary, in 2024, Vietnam will increase import of many types of goods from Thailand to serve domestic production and consumption such as: Complete automobiles of all kinds; machinery, equipment, tools, spare parts; household appliances and components...
Continuing growth momentum, in the first 4 months of 2025, two-way trade turnover between Vietnam and Thailand reached nearly 6.88 billion USD, up 11.2% over the same period in 2024. Of which, exports from Vietnam to Thailand reached 2.6 billion USD, up 1.4%; imports reached over 4.2 billion USD, up 18.5% over the same period in 2024.
In addition, cooperation in other important areas such as energy, culture, tourism, education, etc. has achieved many substantive results. The two countries also maintain close coordination at regional and international forums, especially at ASEAN, the United Nations, the Asia-Pacific Economic Cooperation Forum (APEC), the Mekong Sub-region cooperation mechanism, etc.
Notably, cooperation between localities of the two countries is an important highlight. With 19 pairs of twinned localities, Vietnam and Thailand are the two countries with the largest number of twinned localities among ASEAN member countries. Cooperative relationship between the two countries' localities is increasingly substantial and extensive, contributing greatly to the overall cooperative relationship between the two countries.
In recent years, two countries have also regularly maintained the Vietnam - Thailand Joint Trade Committee mechanism, which was established and held its first meeting in 2012 in Vietnam, co-chaired by Minister of Industry and Trade of Vietnam and Minister of Commerce of Thailand. To date, two sides have held 4 meetings. In coming time, two sides have determined to continue maintaining Joint Trade Committee mechanism to create new driving forces for bilateral economic and trade cooperation between the two countries.
Despite achieving positive results in trade cooperation, Vietnamese Ambassador to Thailand Pham Viet Hung said that economic and trade relations between two countries still have much potential to be promoted.
Vietnam and Thailand are aiming to increase bilateral trade turnover to 25 billion USD as soon as possible. To achieve this goal, Ambassador Pham Viet Hung said that two countries need to review progress of implementing plans and initiatives in fields of economics, trade, and investment, including the "Three Connections" initiative.
Ambassador Pham Viet Hung emphasized that "Three Connections" strategy, including increasing bilateral investment and tourism, will be a driving force and a very effective impact in increasing trade turnover.
Source: Vitic/ congthuong.vn
Import and export: A leap forward after more than two decades
Import and export is evidence of miraculous growth when in a period of 2001-2024, Vietnam's import and export turnover increased more than 25 times, reaching 786.29 billion USD.
Rapid progress
Looking back at journey of more than two decades, Vietnam's import and export of goods is one of the most spectacular bright spots of the economy. According to statistics from General Department of Customs (now Customs Department), if in 2001, total export turnover only reached approximately 15 billion USD, then by 2024, this figure had reached 405.53 billion USD. A growth rate of more than 27 times in just 23 years. This was once considered impossible for a developing country, entering integration from a weak position.
At the same time, imports also recorded strong progress, from about 16.2 billion USD in 2001 to 380.76 billion USD in 2024. Total import and export turnover in 2024 reached 786.29 billion USD, an increase of 14.3% over the previous year, despite unstable global economic context. This is a clear demonstration of the strong recovery and growth capacity of the Vietnamese economy.
An important milestone in Vietnamese trade picture is clear shift from a prolonged trade deficit to a sustainable trade surplus. Since 2012, Vietnam has recorded a trade surplus for the first time and since then, this trend has been maintained continuously.
Notably, in 2024, trade balance continued to tilt towards exports with a record surplus of up to 24.77 billion USD. This is not only a technical figure but also a sign of real shift of the economy to a growth model based on production, manufacturing and value-added industry.
In particular, in the first quarter of 2025, despite facing numerous difficulties, Vietnam's total import-export turnover reached 202 billion USD, the highest level of the first quarter in the period 2016 - 2025. Trade balance in the first quarter of the year continued to maintain a surplus, with a trade surplus of 3.15 billion USD, creating important conditions for foreign exchange reserves, stabilizing exchange rates and macro indicators.
Talking to reporters of Industry and Trade Newspaper, agricultural expert Hoang Trong Thuy assessed that to achieve current achievements, it is impossible not to mention role of functional agencies, including Ministry of Industry and Trade, in negotiating and signing free trade agreements (FTAs) that Vietnam has participated in over the past two decades. From joining World Trade Organization (WTO) in 2007 to new generation FTAs such as CPTPP, EVFTA, RCEP, Vietnam has gradually removed tariff barriers, expanded markets and promoted exports of many strategic product groups.
“Success of import-export activities in recent times has been to bring many key export items such as rice, durian, fresh coconut, etc. abroad, contributing to improving lives of farmers. This is an effect with profound humanitarian significance,” said expert Hoang Trong Thuy.
Items such as phones, electronics, computers, textiles, footwear, wood, agricultural products, etc. have conquered demanding markets such as EU, the US, Japan, and South Korea. In 2024, export of processed and manufactured industrial products accounted for nearly 88% of total export turnover, being the mainstay of trade in goods.
Synchronously and effectively implementing solutions
Despite achieving many impressive results, Vietnam is still facing significant challenges. However, looking back at journey from 2001 to 2024, Vietnam has the right to believe in a stronger breakthrough future for import-export activities. In 2025, Ministry of Industry and Trade aims to increase import and export turnover by about 12% compared to 2024.
Sharing with the press about this target, Minister of Industry and Trade Nguyen Hong Dien said: This is a very challenging target in context of the world's politics and economy, which are forecast to continue to develop very complicatedly and unpredictably. To successfully achieve this target, it requires high determination, great efforts, drastic and effective actions from all levels, sectors, localities, industry associations and enterprises.
As a state management agency in field of international trade, Ministry of Industry and Trade plans to focus on synchronous and effective implementation of solutions to mobilize competitive advantages and take advantage of export market opportunities by promoting and supporting enterprises and industry associations to effectively exploit traditional markets with great potential. At the same time, proactively research, advise on negotiations and sign cooperation agreements with new markets; focus on exploiting and making the most of opportunities from key and strategic markets.
At the same time, make good use of opportunities from FTAs of which Vietnam is a member. Promote trade promotion with focus and key points. Strengthen early warning of risks and accompany businesses when trade defense lawsuits arise.
In Goods Import-Export Strategy to 2030, the Government aims for Vietnam to become a highly competitive exporting country, with a large proportion coming from high-tech industries, green agriculture, and value-added services. To do that, Vietnam needs to continue to improve the quality of human resources, innovate technology, develop supporting industries, diversify markets, and maintain macroeconomic stability. Developing sustainable trade, greening the supply chain, promoting digital transformation and effectively utilizing FTAs will be the key to enhancing Vietnam's import and export position in the 21st century.

Source: Vitic/ congthuong.vn