Russian business people to visit EEC sites

BANGKOK, Sept 13 (TNA) – Russian business people are interested in visiting sites of the Eastern Economic Corridor project, according to the Commerce Ministry. Commerce Minister Apiradi Tantraporn said she met Gruzdev Alexey, Russian deputy minister of economic development, during the 49th ASEAN Economic Ministers Meeting and Related Meetings in Manila and both agreed to set up a committee for bilateral cooperation on the Eastern Economic Corridor (EEC) of Thailand and Russia’s development projects. Russia expressed its interest in the EEC and promised to bring a large delegation of its business people to visit the EEC project sites in the near future, Ms Apiradi said. In the past three years the trade value between Thailand and Russia amounted to US$3.08 billion yearly on average. Last year Russia was the 32nd most important trade partner of Thailand with the value of bilateral trade standing at US$1.96 billion. Thailand’s export to Russia was estimated at US$577 million and import from Russia amounted to US$1.37 billion last year. In the first half of this year bilateral trade soared by 71% year on year to US$1.38 billion. Thailand’s import from Russia rose 79% and its export to Russia increased 55%. Both countries plan to raise the value of their bilateral trade to US$10 billion a year with 2020. (TNA)