Thai firms may fill the void left by the mass exodus of Western companies
Ukraine-related Western sanctions are anticipated to strengthen ties between Russia and Thailand, boosting commerce turnover between the nations to as a lot as $10 billion, in response to Russian Financial system Minister Maxim Reshetnikov.
“The extent of $10 billion that we had beforehand set continues to be a objective, and an achievable one,” he advised journalists after the primary day of the Asia-Pacific Financial Cooperation (APEC) discussion board, which kicked off on Saturday within the Thai capital of Bangkok.
Reshetnikov stated that commerce between Russia and the South Asian state reached $2.8 billion in 2021, stressing that the 2 companions anticipate that determine to multiply.
In line with the minister, the nations had mentioned the problem of boosting mutual commerce earlier within the day.
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“New alternatives have appeared… certainly one of them is the automotive trade,” Reshetnikov stated, explaining that anti-Russian sanctions are creating favorable circumstances for a lot of nations, together with Thailand.
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“Thailand has a really robust automotive and automotive elements trade,” he added.
Russia and Thailand might increase cooperation within the spheres of vitality assets, oil, oil merchandise, gasoline and fertilizers, in addition to meals and engineering merchandise, in response to the minister.
Reshetnikov famous that the 2 nations had established diplomatic relations 125 years in the past.
“They haven’t solely an exquisite historical past, they’ve nice alternatives for improvement, and, I’m certain, they’ve a shiny future,” he stated.
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