Thailand and Vietnam agreed to elevate their relations to Comprehensive Strategic Partnership during the first official visit to Vietnam by Prime Minister Paetongtarn Shinawatra on 15-16 May 2025, when she also co-chaired the fourth Thailand–Vietnam Joint Cabinet Retreat with Vietnamese Prime Minister Pham Minh Chinh.

Prime Minister Paetongtarn said that the elevation of Thailand-Vietnam relations to Comprehensive Strategic Partnership would promote the value chain at all levels between the two countries, with their shared goal to advance growth and enhance strength together in this region.

Vietnam is Thailand’s sixth-largest trading partner in the world and the second in ASEAN, while Thailand is Vietnam’s seventh-largest trading partner in the world and the first in ASEAN. In 2024, Thai-Vietnamese bilateral trade came to 21,000 million US dollars. The two countries have set a target to increase their bilateral trade to 25,000 million dollars in the near future.

Thailand and Vietnam agreed to map out the “Three Connects” plan to promote their economic connection in three major areas, namely (1) supply chains, especially in such target industries as petrochemicals, food, electronics, logistics, and semi-conductors, (2) local economies, and (3) sustainable development, such as green economy, renewable energy, and transition to digital economy.

At the Thailand – Viet Nam Business Forum on 16 May, Prime Minister Paetongtarn said that both countries had planned to develop direct flights between northeastern Thailand and Vietnam in the future, which would facilitate people’s travel and local economies, as well as promoting tourism between them.

On this occasion, Prime Minister Paetongtarn and her Vietnamese counterpart also witnessed the signing of many MOUs and other documents between Thailand and Vietnam, such as those concerning economic and trade cooperation, Thailand’s EXIM Bank and Bank for Investment and Development of Vietnam, and aviation cooperation between Vietjet and Thai Vietjet.