Moscow (VNA) – Deputy Prime Minister and Minister of Foreign Affairs of Thailand Sihasak Phuangketkeow stated on August 18 that the country is seeking to significantly increase bilateral trade with Russia, remove financial barriers and accelerate negotiations for a free trade agreement (FTA) with the Eurasian Economic Union (EAEU).
Talking to the TASS news agency during his official visit to Russia, Sihasak said Thailand-Russia trade currently stands at around 1.7 billion USD a year, below the two countries’ potential. He noted that Bangkok is working with Russian businesses to find ways to boost transactions and address financial obstacles amid international sanctions.
The visit followed the resumption of the Thailand-Russia Joint Commission on Bilateral Cooperation after a three-year hiatus. The two sides agreed to maintain annual meetings to promote economic and trade cooperation.
In the energy sector, Bangkok said it is diversifying sources of oil, gas and fertilisers, including considering increased imports from Russia to mitigate risks arising from geopolitical volatility and energy supply disruptions. Thailand is particularly interested in potential cooperation in the Sakhalin-2 oil and gas project, given its relatively short maritime transport distance.
The two countries are also expanding cooperation in artificial intelligence (AI), digital transformation and cybersecurity, including coordination in combating transnational online scam crimes.
In terms of people-to-people exchanges, Thailand said it welcomed more than 2 million Russian visitors in 2025 and will strengthen measures to ensure their safety for travellers. The two countries also plan to organise a range of cultural and artistic activities in 2027 to mark the 130th anniversary of their diplomatic relations. /.
