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Russia, Thailand discuss switch to national currencies in trade

January 09, 2015, 15:59 UTC+3 BANGKOK
Trade between Russia and Thailand grew 14% in January-October 2014
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BANGKOK, January 9. /TASS/. Russia and Thailand consider a possibility to switch to national currencies in mutual trade, Russian Minister for Industry and Trade Denis Manturov said during an official visit to Thailand on Friday.

“We discussed a possibility to switch to national currencies, using baht and roubles in our trade relations, which will give additional advantages to our companies,” the minister said.

“For this, the Russian and Thai banks should establish correspondent relations to take advantage of this opportunity,” Manturov added.

Trade between Russia and Thailand grew 14% in January-October 2014, to 3.3 billion dollars, Manturov said as he met with Thai Minister of Industry Chakkramon Phasukwanit.

“Supplies of engineering products from Thailand to Russia play a major role in the trade balance,” he said. “We invite producers of car components from Thailand to deploy their productions in our industrial parks,” the minister added.

He also urged Thai partners to more actively develop cooperation in the pharmaceutical sector, saying Russia was also interested in having joint ventures in Thailand.

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