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Russia interested in investment projects in eastern Thailand — minister

September 14, 2017, 8:12 UTC+3 BANGKOK

Russia and Thailand have set a task to increase bilateral trade to $10 bln by 2020

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BANGKOK, September 14. /TASS/. Russia is interested in participating in investment projects in Thailand’s eastern coast, including within the Eastern Economic Corridor, Bangkok Post said on Thursday, citing Thailand’s Minister of Commerce Apriradi Tantraporn.

According to the minister this issue was raised at his meeting with Russian Deputy Minister of Economic Development Alexei Gruzdev at the ASEAN Economic Ministers meeting (AEM) last week in the Philippines. ""We had a chance to have a bilateral talk and Mr Gruzdev mentioned that Russian companies want to invest in the EEC," the minister was quoted as saying.

Joint projects will be in focus of talks with a Russian high-ranking official who is expected to visit Thailand soon, Bangkok Post said.

The Eastern Economic Corridor is Thailand’s flagship project in the eastern coastal provinces of Chonbury, Chachoengsao and Rayong. Investors are invited to develop projects in the areas of robotics, car building, biotechnologies, agriculture and medicine.

Russia’s and Thailand’s governments have set a task of increasing bilateral trade to ten billion U.S. dollars by 2020. In 2016, according to Thailand’s statistics, trade between the two countries stood at 1.964 billion U.S. dollars. Considerable growth was reported in the first six months of 2017. Trade jumped up by 79.5% on the same period last year, to reach 1.15 billion U.S. dollars.

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