Thailand has encouraged Russia to sign a contract for the purchase of 80,000 tonnes of rubber worth US$139.1 million soon. This will ensure supplies for Russian automobile and aircraft production.
The Russian government has also agreed to persuade its private enterprises to invest in Thailand.
Russia is also interested to invest more in Thailand in particular along the special economic zones, which can link Russia from China to Danang, Vietnam, and from Yunnan, China to Asean, and to India.
Russia has also urged Thai investors to expand investment in its country. Recently a Thai sugar manufacturer invested $200 million to set up a sugar mill in Russia.
According to the Trade Negotiations Department, Russia is Thailand’s 23rd-largest trading partner, with average bilateral trade worth $4.91 billion last year, accounting for 1.08 per cent of Thailand’s total trade value. Thailand has a trade deficit with Russia. In the first eight months of this year, two-way trade amounted to $1.68 billion, down by 50.73 per cent year on year.