Iran, Thailand to hold economic commission next week

TEHRAN, Jan. 16 (MNA) – Thai Foreign Minister Don Pramudwinai is expected to travel to Tehran in coming days to attend Iran-Thailand joint economic commission, Thai Deputy Minister of Commerce Suvit Maesincee said. Mr. Maesincee announced on Friday that the ninth Iran-Thailand joint economic commission will be held next week with the attendance of Thai Foreign Minister Don Pramudwinai, adding the minister is scheduled to confer with his Iranian counterpart Mohammad Javad Zarif on developing bilateral relations. According to Bangkok Post, a delegation of some 50-60 businessmen and economic officials will be accompanying the Thai foreign minister on his visit to Iran. Following the joint economic commission, Thailand plans to send a high-ranking economic delegation to Iran headed by Deputy Prime Minister Somkid Jatusripitak with an aim to promote relations and implement bilateral agreements with Iran. The eighth Iran-Thailand joint economic commission was held in 2011 in Bangkok. Thailand has predicted that its value of trade and mutual investment with Iran can increase to $1.2 billion two years into the lifting of the sanctions. Within four or five years after the sanctions relief, the transactions between the two countries can even reach $3-5 billion, Maesincee said. The two countries’ trade value stood at merely $365 million last year, a $600 million drop due to oil price fall and global recession. Iran currently holds a meager $99 million share in Thailand’s $200 billion market.