Deputy Prime Minister and Foreign Minister Sihasak Phuangketkeow met Bakytzhan Sagintaev, Chairman of the Board of the Eurasian Economic Commission (EEC), in Moscow on Thursday (Aug 13) to discuss closer economic cooperation.
The talks focused on expediting the process towards starting negotiations for a Thailand-EAEU Free Trade Agreement, along with cooperation in artificial intelligence, e-commerce, connectivity and green energy.
The two sides also discussed encouraging closer cooperation between Thai and EAEU private-sector businesses.
The EEC is the international organisation responsible for regional economic integration among the five EAEU member states – Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia.
Bilateral trade between Thailand and the EAEU totalled more than US$2 billion last year, according to the Ministry of Foreign Affairs. The bloc has a population of more than 180 million and a combined GDP of about US$1.99 trillion.
Sihasak also met Russian Deputy Prime Minister Alexander Novak in Moscow, with discussions covering Thailand-Russia cooperation in trade, investment, agriculture and energy.
They also discussed improving trade facilitation and accelerating the start of Thailand-EAEU FTA negotiations.
Russia is Thailand’s largest trading partner within the EAEU and Thailand’s 36th-largest trading partner overall, the ministry said.
Sihasak also attended a working lunch hosted by Ivan Demchenko, Chairman of the Russian-Thai Business Council, where Thai and Russian business representatives discussed trade and investment opportunities in targeted sectors.
The meeting was held ahead of the second Russian-Thai Investment Forum, scheduled to take place in Bangkok in October.
The Russian-Thai Business Council was established in 2006 to promote trade and investment links between the two countries. Its members include companies operating in heavy industry, energy, information and communications technology and logistics.