Thailand, Russia to boost two-way trade to US$10b in 2016

BANGKOK, April 8 (TNA) - Thailand and Russia have targeted to boost the value of their bilateral trade to 10 billion US dollars next year, along with agreed cooperation in all dimensions. Thai Prime Minister General Prayut Chan-ocha and his visiting Russian counterpart Dmitry Medvedev told a joint press conference of the update on Wednesday, after their bilateral talks and a plenary discusssion at Bangkok's Government House earlier in the day. The Thai prime minister said apart from both sides' agreement to increase the value of mutual trade to 10 billion US dollars in 2016, from 4 billion US dollars in 2014, Thailand asked Russia to import more Thai agricultural products including rubber, rice, frozen pork, fresh vegetables and fruits and fishery products. The Thai premier stated that he also invited Russia to help develop logistic infrastructure in Thailand. Besides, the prime minister promised his government will support Thai investors to form joint ventures with their Russian counterparts to produce automobile parts and food. The Thai premier also promised his government will implement measures to take good care of Russian tourists, especially those on providing them with safety and welfare benefits. The Thai premier also took the opportunity to extend his invitation for Russian President Vladimir Putin to visit Thailand. The Russian prime minister, who was officially visit Thailand from April 7-8, noted that Thailand is Russia's oldest partner in Asia and the Pacific and the two allied countries will celebrate their 120th diplomatic relations over the next two years. The Russian prime minister pointed out that nearly 1.6 million Russian nationals visited Thailand in 2014 alone. The Russian prime minister also invited his Thai counterpart to pay an official visit to Russia. Prior to the joint press conference, the Thai and the visiting Russian prime ministers witnessed the signing of five agreements between Russia and Thailand, including memoranda of understanding (MOU) on bilateral cooperation on energy, cultures, anti-narcotics and investment, as well as an accord on joint tourism activities 2015-2017. (TNA)