Russia shows interest on investing at EEC

BANGKOK, April 22 (TNA) -- Russian and Thai Ministers this week held a meeting in Bangkok to explore ways to boost bilateral trade to five folds within the next five years as agreed earlier by their government leaders while Russian investors are also keen to invest in Thailand’s Eastern Economic Corridor (EEC), said Commerce Minister Apiradi Tantraporn. Ms Apiradi’s remarks were made after her ministry hosted a Sub-Commission on Trade and Economic Cooperation meeting and she has met Alexey Gruzdev, Russia's deputy minister for economic development. Both sides have agreed to increase trade value to 10 billion US dollars within 2020, agreed when Prime Minister Gen Prayut Chan-o-cha visited Russia last May, she said. Thai businessmen plan to visit Moscow and Vladivostok this June and September respectively and will strengthen logistics cooperation between Vladivostok and Laem Chabang harbours as well as facilitating money transactions in order to boost bilateral trade, said Ms Apiradi. In order to support the Russian government’s policy on food security, Thailand is prepared to export food and agricultural products to Russia, she said. The Thai government has invited Russian businessmen to invest on several fields in the EEC including software, aircraft, machinery and information technology, she said. It also invited Russian businessmen to invest on a ‘Rubber City’ project and both sides agreed to set up a working committee to discuss the plan later, she said. The two countries will celebrate 120th anniversary of diplomatic relations this year. (TNA)