Potential of Russian export to Thailand estimated at over $20 billion
The cooperation development can be driven by new logistics routes
The potential of Russian export to Thailand is estimated at over $20 billion, the Ministry for the Development of the Russian Far East and Arctic says according to its Telegram channel. Among the promising areas of exports from Russia are energy, metal, fertilizers and agricultural products.
Besides, cooperation in the development of civil aviation, chemical industry, transport engineering, metal production, shipbuilding and information technologies was discussed during the meeting of the Joint Thai-Russian Commission on Bilateral Cooperation held in Bangkok.
According to the statement, the cooperation development can be driven by new logistics routes. One of them is already operational between Vladivostok and the ports of Vietnam with Russia ready to organize transshipment from the ports of Thailand.
Russia also invites Thailand to create a joint international priority development area (PDA) in the Far East. Among special privileges it will offer a special register of entities, settlements in national currencies, free customs zone, etc. Total investments of Thailand in Russian economy already reached $2 billion. Most projects are being implemented in the agricultural sector.
According to Aleksey Chekunkov, Minister for the Development of the Russian Far East and Arctic, additional meetings of industry-focused working groups will be held and consulting of businesses will be organized in the part of export/import operations, efficient logistics, settlement payments and insurance.