Vietnam affirms joint growth with Thailand to drive ASEAN economy
At the Thailand–Vietnam Business Forum 2026, leaders marked 50 years of diplomatic ties and outlined trade, investment and supply-chain cooperation.
- At a business forum celebrating 50 years of diplomatic relations, leaders from Vietnam and Thailand affirmed a shared vision for joint economic growth to strengthen the entire ASEAN region.
- The partnership aims to combine Vietnam's growing manufacturing base with Thailand's industrial expertise to develop integrated supply chains and become key regional export centers.
- As major trading partners, with Thailand being Vietnam's largest in ASEAN, the two nations aim to increase their bilateral trade from a short-term target of US$25 billion towards a future goal of US$50 billion.
- The economic relationship is defined as a partnership of shared growth, not competition, highlighted by the fact that over half of Thai exports to Vietnam are raw materials for its manufacturing sector.
The Thailand–Vietnam Friendship Association organised the Thailand–Vietnam Business Forum 2026 under the theme “Growing Together”, with Vietnamese and Thai leaders sharing their vision at the forum to celebrate 50 years of diplomatic relations.
To Lam, General Secretary of the Communist Party of Vietnam and President of the Socialist Republic of Vietnam, and Anutin Charnvirakul, Prime Minister, jointly presented their visions for future Thailand–Vietnam cooperation before government leaders, senior executives, investors and leading private-sector representatives from both countries, who attended in large numbers.
To Lam, General Secretary of the Communist Party of Vietnam and President of the Socialist Republic of Vietnam, said that in today’s world, no country can grow alone.
Thailand and Vietnam need to move forward together to jointly build economic strength and play an important role in the sustainable development of the ASEAN region.
Vietnam has a population of more than 100 million and is growing rapidly as a major manufacturing and industrial base in the region, while Thailand has expertise in a wide range of industries, including automotive, food, energy, trade and services, as well as a strong and highly capable private sector.
Thailand and Vietnam can therefore combine their strengths to develop supply chains, connect production bases and become key manufacturing and export centres in the region, for the shared benefit of both countries and ASEAN as a whole.
Anutin Charnvirakul, the Prime Minister, said Thailand is currently Vietnam’s largest trading partner in ASEAN, while Vietnam is Thailand’s second-largest trading partner in ASEAN.
Bilateral trade is worth about US$24 billion, with a short-term target of US$25 billion, and both sides should, in the future, push this towards US$50 billion.
Thailand currently has a large amount of investment in Vietnam, and it would therefore like to see more Vietnamese businesses invest in Thailand as well, because the Thai and Vietnamese economies are similar in size.
The two countries are not competitors but trading partners and partners in growth.
Importantly, the two countries’ economies are deeply linked.
More than half of the goods Thailand exports to Vietnam are raw materials and components used in Vietnam’s export manufacturing sector.
This shows that the economic relationship is not merely competition, but shared growth through a single supply chain, and this is the true meaning of Strategic Partnership.
Sanan Angubolkul, President of the Thailand–Vietnam Friendship Association and Senior Chairman of the Thai Chamber of Commerce and the Board of Trade of Thailand, said the association organised the Thailand–Vietnam Business Forum 2026 under the theme “Growing Together” with official support from the Ministry of Foreign Affairs, together with leading organisational partners including the Board of Trade of Thailand, the Thailand–Vietnam Business Council and the Thai Chamber of Commerce and Industry in Vietnam.
The event was intended to celebrate the 50th anniversary of the establishment of Thailand–Vietnam diplomatic relations and to raise economic cooperation between the two countries towards sustainable growth at the regional level.
The event reflects the commitment of both countries to drive cooperation through the “Three Connects” concept: connecting supply chains and contemporary economies; connecting the business sector, localities and people; and connecting towards a future of shared sustainability, technology and innovation.
A key highlight of the event was that the Vietnamese President allowed Thai private-sector representatives to meet him in one-on-one sessions to hear directly about problems, obstacles and recommendations.
This is expected to help drive trade, investment and economic connectivity cooperation towards more concrete results.
He expressed confidence that the potential of both countries and the strength of Thai and Vietnamese business leaders would be an important driving force in lifting bilateral trade to the target of US$25 billion in the near future.
He also affirmed that the Thailand–Vietnam Friendship Association and Thai private-sector networks were ready to act as a bridge for cooperation between the business sectors and peoples of both countries.
Activities at the Thailand–Vietnam Business Forum 2026 included discussions and exchanges of strategic views across several dimensions, including trade, investment, value-chain connectivity, the transition to the digital economy, logistics development and the upgrading of cooperation in potential industries of both countries.
They also included high-level panel discussions by leading business executives, business-matching activities and a ceremony to sign business memoranda of understanding (MoUs) between the Thai and Vietnamese private sectors.
This was another important step in translating cooperation into practice, strengthening competitiveness and expanding shared economic opportunities in the ASEAN region.
