Russia and Thailand trade could exceed $10-15 billion if barriers removed, Russian ambassador says

BANGKOK, August 29. /TASS/. Trade between Russia and Thailand could eventually exceed $10-15 bln if existing barriers are removed, Russian Ambassador to Thailand Evgeny Tomikhin told TASS, commenting on the results of the ninth meeting of the Joint Russian-Thai Commission on Bilateral Cooperation held in Moscow.

According to him, the Russian and Thai economies are largely complementary due to their location in different climate zones, creating a solid foundation for cooperation in agriculture, energy, industry, transportation and digital technologies. "Last year, trade turnover was around $2 bln. So far this year, we have seen it grow, but it is clear that even $3 bln or $4 bln is an insignificant amount for countries such as Russia and Thailand. Our businesspeople offer very bold estimates, believing that neither $10 bln nor $15 bln is the limit if all barriers are removed and various projects of mutual interest are developed," the Russian ambassador said.

Tomikhin noted that payment and settlement arrangements have been identified "among the priority areas that currently require the greatest attention." In this regard, the two sides agreed "to remove the barriers that impede the normal functioning of economic cooperation between our countries."