Thailand hopes to boost trade with EAEU

Thai Ambassador to Kazakhstan, Nat Pinyowattanacheep (L) and other Thai officials at the media conference (Photo: annx.asianews.network)

Bangkok (VNA) – Thailand’s government hopes the transport connectivity initiative of China will boost trade and investment ties with and attract tourists from countries in the Eurasia Economic Union (EAEU).

The trade value between Thailand and the EAEU countries has stayed humble due to transport issues, said Thai Ambassador to Kazakhstan Nat Pinyowattanacheep, adding that the key AH1 route under the “One Belt, One Road” initiative of China is expected to shorten transport time, thus enhancing trade between Thailand and those countries. 

He also urged Thai businesses to view the region as a niche market for food as Thailand holds potential for supplying halal food as well as food and coconut oil.

The EAEU, comprising 180 million people, includes Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia and Moldova. 

During Thai Prime Minister Prayut Chan-ocha’s visit to Russia to attend the ASEAN-Russia Summit in mid-May, both sides discussed measures to boost bilateral trade. The Thai Commerce Ministry and the Russian Ministry for Economic Development also signed a memorandum of understanding on trade and economic cooperation.

A business-matching event hosted by the Thai Commerce Ministry is planned to be held on June 27, allowing businesspeople to discuss cooperation opportunities with foreign investors in the fields of auto spare parts, solar cell panel, health and beauty products as well as food and drinks. -VNA