Vietnam Becomes Fourth Biggest Trade Partners of Thailand in Jan-Sept

Vietnam becomes ThailandÃ¢â‚¬â„¢s fourth biggest trade partner within the ASEAN bloc after Singapore, Malaysia and Indonesia in the first nine months of this year.

Trade between Vietnam and Thailand stood at $4.2 billion during the period, including VietnamÃ¢â‚¬â„¢s exports worth over $1 billion, according to the Thai Commerce Ministry.

VietnamÃ¢â‚¬â„¢s key exports to Thailand were electronics, crude oil, coal and seafood while its major imports were motorbike components, petroleum products, machinery and equipment and apparel.

In late September, the Vietnamese Ministry of Finance decided to exempt 92% of import tariffs on Thai goods from Oct. 1 in line with the ASEAN-Japan Comprehensive Economic Partnership (AJCEP) Agreement effective from last December to 2012.

Vietnam and Thailand are likely to realize the set target of boosting bilateral trade to $10 billion in 2010, Prime Minister Nguyen Tan Dung said during his meeting with ThailandÃ¢â‚¬â„¢s outgoing ambassador to Vietnam Kittiphong Na Ranong on May 18. (Vietnam & World Economy)

Tags: Vietnam business news, Vietnam Thailand trade, Vietnam trade

Posted by VBN on Nov 19 2009. Filed under Import-Export, Int'l Cooperation. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry