Agencies-Gaza post
Russia hopes for trade boom with South Asian country
Russian Economy Minister, Maxim Reshetnikov, said in a press statement that Western sanctions related to Ukraine will strengthen Russia-Thailand ties and boost trade turnover between the nations to as much as $10 billion.
“The $10 billion level that we previously set is still a goal and an achievable one.” he told journalists after the first day of the Asia-Pacific Economic Cooperation Forum (APEC) which kicked off in the Thai capital Bangkok on Saturday.
Reshetnikov said trade between Russia and the South Asian state will reach $2.8 billion in 2021, stressing that the two partners expect that number to multiply.
Earlier in the day, the countries had discussed the issue of promoting mutual trade, according to the minister.
“New opportunities have emerged … one of them is the automotive industry”, Reshetnikov said, explaining that the anti-Russian sanctions are creating favorable circumstances for a large number of countries, including Thailand.
“Thailand has a very strong automotive and automotive supply industry,” he added.
According to the minister, Russia and Thailand could increase cooperation in the fields of energy resources, oil, oil products, gas and fertilizers, as well as food and technical products.
Reshetnikov noted that the two nations established diplomatic relations 125 years ago.
“Not only do they have a wonderful history, they have great development opportunities and I am sure they have a bright future ahead of them.” he said.
