Russia, Thailand to set $10 bln trade target

Russia and Thailand are planning to set a trade target of $10 billion.

Russia and Thailand are planning to set a trade target of $10 billion.

Sergey Krasnouhov / RIA Novosti
Moscow, Bangkok look to revive falling trade turnover.

Russia and Thailand are planning to set a trade target of $10 billion in the near future, Sputnik News said, citing a Russian government source.

In 2015 bilateral trade between Russia and Thailand fell by 48 percent to just over $2 billion.

“It is necessary to overcome the tendency [toward a] decrease in bilateral trade that amounted to $2.05 billion dollars in 2015, which is 48.4 percent less than in the previous year [$3.9 billion]," the source told the news agency.

Thailand’s Defense Minister Prawit Wongsuwan and Deputy Prime Minister and Economic Affairs Minister Somkid Jatusripitak are in Russia this week for talks with their counterparts.

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