Russia, Thailand to step up economic cooperation

Russia invited Thailand to begin a dialogue on the establishment of a free trade agreement between the Kingdom and the Eurasian Economic Union.

General Tanasak Patimapragorn, Thai Deputy Prime Minister and Foreign Minister of Thailand visited Moscow last week for the Sixth Meeting of the Thai-Russia Joint Commission on Bilateral Cooperation. The Russian joint head of the commission is Minister of Industry and Trade Denis Manturov. 

The foreign ministries of the countries agreed to hold annual consultations from 2016 to 2018.

Russia also agreed to buy rubber from Thailand. “We agreed today to finalize a contract by September to purchase 80,000 tonnes of rubber from Thailand next year,” Manturov said.

Russia also invited Thailand for a dialogue on the establishment of a free trade area between the kingdom and the Eurasian Economic Union (EAEU). “An important step on the road to expanding trade and economic cooperation might be for Thailand to approach the Eurasian Economic Commission and suggest the initiation of talks on a free trade zone agreement between EAEU member-states and the Kingdom of Thailand,” Manturov said.

"Tanasak Patimapragorn visited Russia in order to ensure practical implementation of the agreements that were reached during the talks between the heads of governments of Russia and Thailand in Bangkok on April 8, 2015,” Russia's Ambassador to Thailand Kirill Barsky said. “During the meetings in Moscow, we reached concrete agreements on how to move forward.”

According to the Barsky, during the visit the sides agreed to establish working groups on Interbank cooperation, Science and Technology, Tourism spheres. The two countries plan to hold Russian-Thai Business Forum and work on the establishment of closer cooperation between its structures.

 

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