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SOCHI, May 20. /TASS/. The authorities of Thailand have evaluated the expediency of establishing a free trade zone with the Eurasian Economic Union (EAEU), but Bangkok needs some time to observe the necessary internal procedures and to enter into negotiations, Thai Foreign Minister Don Pramudvinai told TASS in an exclusive interview.
"Indeed, the economic feasibility study of creating a free trade area between Thailand and EAEU has been carried out. It had been made for the group of countries of the Customs Union that included only Russia, Kazakhstan and Belarus. The results of the study are very positive both for Thailand and EAEU", the minister said. He added that Thailand "has not yet passed through all the necessary internal processes that will allow it to make an application and enter into negotiations."
The foreign minister of Thailand said that Bangkok regarded EAEU "as a potential trading partner, uniting five countries with a population of 180 million people and the total GDP volume exceeding $2.2 trillion in 2015". "The free trade agreement will open new opportunities for Thai exporters in the Eurasian region and will contribute to the strengthening economic ties between Thailand and EAEU member countries, primarily with Russia, which is the largest trading partner in this group," Don Pramudvinai said.
"We count on support from Russia and other EAEU members throughout the application process and conduct of negotiations", the Thai foreign minister said.