The Thai government has agreed to reduce trade and investment barriers to Russian investment in Thailand’s Eastern Economic Corridor.
The agreement was announced following a meeting between Thai Commerce Minister Apiradi Tantraporn and Russian Deputy Economic Development Minister Alexey Gruzdev. The meeting took place on 22 April in Bangkok. The decision clears the way for Russian investment in the country.
Tantraporn said that Russian businessmen are ready to work with Thailand in major areas including next-generation cars, smart electronics, medical and wellness tourism, agriculture and biotechnology, food, robotic technology, aviation and logistics, biochemicals and biofuels, digital technology, and healthcare.
Thailand will conduct a trade mission to Moscow in June and to Vladivostok in September 2017, she said.
In 2016, trade between Russia and Thailand topped US $4.2 billion. Analysts say it could reach US $10 billion within five years.