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Russia ready to back Thailand’s initiative on free trade zone with Eurasian Economic Union

May 18, 2016, 19:50 UTC+3 ST. PETERSBURG
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ST. PETERSBURG, May 18. /TASS/. The Russian government is ready to support the initiative of Thailand on a free trade zone with the Eurasian Economic Union, Deputy Economic Development Minister Alexey Likhachev told reporters on the sidelines of the Russian-Thai business dialogue forum.

"Russia is ready to support the initiative of Thailand, but it should be action-oriented," he said, adding that "any progress on the issue will begin after Thailand submits a formal application."

Likhachev outlined an algorithm of working on the subject. The country should submit an application, which will be considered by the Board of the Eurasian Economic Commission.

"In case of interest a working group will be set up to discuss it. The decision on official negotiations is taken by the Supreme Eurasian Economic Council which consists of five presidents," he said.

Earlier TASS reported referring to Likhachev that Russia and Thailand had agreed to start negotiations on establishing a free trade zone with the Eurasian Economic Union.

It is expected that the procedure will be same as conclusion of a similar agreement with Vietnam.

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