Thailand and Vietnam plan to boost bilateral trade and investment by 20
per cent within the next three years by cooperating more closely through
holding joint cabinet meetings and later under the Asean Economic Community.
The goal is scheduled to be
announced at the second joint cabinet meeting between Thailand and Vietnam in
Hanoi today. Prime Minister Yingluck Shinawatra will lead her Cabinet on the
mission to the Vietnamese capital.
In 2011, bilateral trade between
the two nations was worth US$9.08 billion (Bt277 billion). Exports from
Thailand were valued at $7.05 billion, with imports from Vietnam of $2.03
billion.
Commerce Minister Boonsong
Teriyapirom said closer collaboration on rice trading would be one of the key
topics of discussion among the leaders.
"The cooperation will go
beyond the cooperation framework among Asean rice producers. With a strong
commitment and mandate from the leaders, the two nations will join forces to
work against price dumping in the rice trade to stabilise the price in the
world market," Boonsong said.
Bangkok and Hanoi will also
cooperate in dividing up the rice market in the near future so that neither
country will need to resort to cutting prices. The countries will also seek to
eliminate both tariff and non-tariff barriers to rice trading with third
countries, and help solve other problems relating to rice trading and
standards.
After getting a clear mandate
from the leaders, officials will discuss how to cooperate on adding value to
rice and processed-rice goods to boost price sustainability.
Moreover, Thailand plans to set
up a distribution centre for Thai goods in Vietnam. The Kingdom may build silos
and milling plants in Vietnam, Thailand or Cambodia to help develop milling
standards among Asean rice producers.
Thailand and Vietnam will also
strengthen cooperation on tapioca trading under the Tapioca Producer and
Exporter Consortium.
A source from the Commerce
Ministry warned that closer rice-trade cooperation between Thailand and Vietnam
could be difficult to achieve because of the large gap in the price of rice in
the two countries. The price of Thai 5-per-cent white rice is currently quoted
at $570 a tonne, while Vietnamese rice is $490.
This will be the second joint
cabinet session between the two countries. The first was in 2004 under the
government of Thaksin Shinawatra. An agreement to resume the joint meetings was
reached when Yingluck visited Vietnam last November.
PETCHANET PRATRUANGKRAI
Business & Investment Opportunities
YourVietnamExpert is a division of Saigon Business Corporation Pte Ltd, Incorporated in Singapore since 1994. As Your Business Companion, we propose a range of services in Strategy, Investment and Management, focusing Healthcare and Life Science with expertise in ASEAN. Since we are currently changing the platform of www.yourvietnamexpert.com, you may contact us at: sbc.pte@gmail.com, provisionally. Many thanks.
No comments:
Post a Comment