Overview of Vietnam Trade Office in Thailand

The Vietnam Trade Office in Thailand always supports and accompanies businesses of Vietnam and Thailand to connect trade and promote economic and trade cooperation.

Functions and tasks of the Vietnam Trade Office in Thailand

Vietnam Trade Office in Thailand, under the Trade Office system of the Ministry of Industry and Trade of Vietnam. The Trade Office has been affirming its role as an important bridge in promoting economic, trade and investment cooperation between Vietnam and Thailand.

The Vietnam Trade Office in Thailand undertakes many important tasks to help connect the economy and two-way trade between the two countries. As the official representative of the Ministry of Industry and Trade of Vietnam abroad, the Vietnam Trade Office in Thailand performs the function of trade promotion, supporting Vietnamese enterprises to access the Thai market and promoting effective economic connection programs.

Thailand maintains its position as Vietnam's largest trade partner in the Association of Southeast Asian Nations (ASEAN). Photo: VNA

The Vietnam Trade Office in Thailand always accompanies and regularly organizes fairs, exhibitions, seminars and working trips to help businesses expand trade opportunities. In addition, the Trade Office also provides market information, supports businesses in resolving legal issues and policy advice, making an important contribution to the sustainable development of the Vietnam - Thailand economic relationship.

Strong mark of Vietnam Trade Office in Thailand

The activities of the Vietnam Trade Office in Thailand in 2024 have enriched trade and investment activities between the two countries, contributing to helping Thailand maintain its position as Vietnam's largest trade partner in the Association of Southeast Asian Nations (ASEAN).

According to Mr. Le Huu Phuc - Vietnamese Trade Counselor in Thailand, in 2024, the Trade Office focused on implementing 4 key activities including market research, trade promotion, business support and communications.

Specifically, the Trade Office supported the promotion of more than 30 Vietnamese enterprises to participate in the THAIFEX – Anuga Asia 2024 Food and Beverage Exhibition in June; coordinated with Central Retail Thailand and Vietnam to organize the Vietnam Goods Week in Udon Thani Province, Northeast Thailand in November; and together with the Federation of Thai Industries (FTI) and the Vietnam Logistics Human Resources Development Association (VALOMA) to organize the Forum to promote cooperation in developing high-level human resources in logistics and supply chain management between Vietnam and Thailand in October.

In addition, the Trade Office has closely coordinated with domestic units of the Ministry of Industry and Trade, the Ministry of Agriculture and Rural Development, to research and update information on policies of the Thai Government, especially in the fields of rice and agricultural trade such as durian. At the same time, it has researched, evaluated and shared information and experience on development policies in areas such as: Development of industrial parks, export processing zones, textile industry, tobacco industry.

Mr. Le Huu Phuc also knows that in regional and international economic forums, Vietnam and Thailand have effectively coordinated with each other in many fields. Typically, in the field of energy security, with the goal of ensuring enough energy for economic development as well as solving social problems, the two countries have coordinated to promote common cooperation mechanisms in ASEAN such as the ASEAN Power Grid (APG); ASEAN Gas Pipeline (TAGP); Oil and Gas Security Agreement (APSA); Renewable Energy (RE) ...

The two countries are also key partners in ensuring food security in the region. Vietnam is considered an important bridge for Thai agricultural products to be exported to the leading market of China, as up to 80% of Thai agricultural products exported to China are transported through Vietnam.

In addition, Vietnam and Thailand also regularly share information and coordinate policy responses to the two countries' major markets such as the US, the European Union (EU), and Japan, especially when major countries change their trade policies or unilaterally apply non-trade barriers, causing negative impacts.

However, currently, fierce geopolitical competition between major countries is shifting trade and investment flows. In particular, conflicts around the world risk disrupting supply sources and supply chains. In addition, macroeconomic policy instability between major countries creates large fluctuations in exchange rates, reserve interest rates, inflation, etc., posing risks and increasing costs for trade and investment activities.

In addition, the fact that Thailand and Vietnam have similar economic structures also increases the level of competition for traditional products such as fruits. Currently, Vietnam has opened its doors to nearly 30 Thai fruits for export.

However, in the opposite direction, Vietnam is only allowed to export 4 types of fruit to Thailand including dragon fruit, longan, mango and lychee. Some other fruits such as grapefruit, custard apple, star apple, rambutan, passion fruit... have not yet reached an agreement with Thailand although this issue has been raised in many cooperation mechanisms between the two countries.

In the coming time, Mr. Le Huu Phuc said, the Trade Office will focus on establishing an information exchange mechanism between the two countries on each other's trade defense policies and measures; increasing exchanges at all levels to review and promptly remove obstacles; consulting and supporting businesses in accessing business in new conditions.

In addition, the Trade Office will promote trade promotion activities, develop export markets in the direction of connecting supply chains and strengthening local economic cooperation, especially between the northeastern provinces of Thailand, where a large number of overseas Vietnamese live, and the central provinces of Vietnam. At the same time, it will facilitate market access for local products under the "One Commune One Product" Program (OTOP of Thailand or OCOP of Vietnam), to promote the consumption of Vietnamese goods in Thai supermarkets.

In the coming year, the Vietnam Trade Office in Thailand will focus on strategic goals:

- Supply chain connectivity: Promote trade exchange between the Northeastern provinces of Thailand and Central Vietnam through the One Commune One Product (OCOP) program.

- Green economic cooperation: Exploiting development opportunities in the fields of digital economy, circular economy and renewable energy.

- Local trade promotion: Support businesses of both countries to access markets and develop local products into large supermarket systems in Thailand.

With its continuous efforts, the Vietnam Trade Office in Thailand has affirmed its important role as a bridge in the trade relationship between the two countries. This development not only opens up opportunities for sustainable economic cooperation but also contributes to bringing the Vietnamese brand to the international market.

According to statistics from the General Department of Customs, in the first 10 months of 2024, Vietnam's total import-export turnover with Thailand reached 16.6 billion USD, up 5.1% over the same period in 2023. Thailand continues to be Vietnam's largest trading partner in ASEAN and accounts for 24% of Vietnam's import-export turnover with ASEAN. Notably, Vietnam's trade deficit with Thailand has somewhat improved. In the 10 months of 2024, the value of Vietnamese goods exported to Thailand reached 6.5 billion USD and imports were 10.1 billion USD, the trade deficit decreased by 4.8% over the same period in 2023.

Vietnam Trade Office in Thailand

Address: 83/1 Wireless Road, Lumpini, Pathumwan, Bangkok10330

Phone: (662)650-845-425

Fax: (662)225-26950

Email:[email protected]

Source: https://congthuong.vn/tong-quan-ve-thuong-vu-viet-nam-tai-thai-lan-366384.html