Russian business expects joint IT projects with Thailand - Chairman of Russian-Thai Business Council

BANGKOK, November 11. /TASS/. Economic cooperation between Russia and Thailand may be expanded by creation of joint holdings and implementation of high-tech projects in IT and telecommunications sector, Chairman of the Russian-Thai Business Council /RTBC/ Ivan Polyakov told TASS on Wednesday. "We hope to change the structure of our external trade relations," Polyakov said. "We’ll try to increase share of goods with more added value made in Russia and supplied to Thailand. And we hope very much that growth will be achieved partially through creation of big joint holdings. The issue is about big players, which create joint products. I would abstain from announcements but I hope joint enterprises will emerge very soon," he added. Polyakov became Chairman of the Russian-Thai Business Council in mid-2015 and he vows to make it more efficient. "Leaders of Russia and Thailand have set the goal of almost doubling bilateral trade to $10 bln," he said, adding that the task may be reached. "We’ve attracted such companies and corporations as Rostec, Uralvagonzavod, Rosneft as well as Russia’s biggest banks like Gazprombank and VTB in the council’s work," Polyakov said. He added that his year the trade turnover between the two countries has been declining, which is mainly related to the ruble’s devaluation. "As of now mutual trade exceeds 4 bln rubles. We’re recording a slight decline, which is temporary. We may change the situation with the help of new projects," he said. Russian business mission is working in Thailand from 9 to 12 November. It includes more than 10 Russian enterprises. The bulk of them operate in high tech, telecom, IT sectors as well as in food production. According to Polyakov, the two countries are most actively cooperating in the fuel and energy complex, nuclear power industry and military sector. "Those areas are strategic and to some extend do not belong to priory focus of our business council’s work. We expect to create environment for accelerated development of contacts between representatives of medium-sized and small business from Russia and Thailand, first of all from high tech and telecommunications sectors," he said. According to the Chairman, most Russian companies now lack information regarding potential to participate in innovations projects in Thailand. "Russian companies have huge potential for participating in big projects on development of urban infrastructure in Thailand but many of them complain they lack information about current projects. We’ve agreed with our Thai colleagues to create such a base. We’ll be exchanging information and monitoring projects," he added. Read more