Translation. Region: Russian Federal
Source: Ministry of Economic Development (Russia) – Ministry of Economic Development (Russia) –
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The fifth meeting of the Russian-Thai Subcommission on Trade and Economic Cooperation (PTEC) after a five-year break was held on July 15-16 in Bangkok. The Russian delegation was headed by Deputy Minister of Economic Development Vladimir Ilyichev, and the Thai delegation was headed by Deputy Minister of Trade of the Kingdom of Thailand Chanthavit Thanthasit. The subcommission was attended by 60 representatives of Russian and Thai authorities, industry associations and companies.
During the meeting, the parties discussed the current state of bilateral trade and economic relations and proposed new areas for implementing joint projects.
"We are seeing positive dynamics in bilateral trade. In particular, according to the results of the first five months of 2025, the trade turnover between Russia and Thailand has grown by almost 10%, and the export of Russian products to Thailand has grown by 50%. At the same time, we see potential for the export of low-carbon energy resources, agricultural and pharmaceutical products, and oil and gas equipment to Thailand. In addition, we note the mutual interest of companies in developing investment cooperation," Vladimir Ilyichev noted in his speech.
The Thai side confirmed its interest in developing partnership with Russia.
"Thailand seeks to develop trade and economic relations with its key partners, and Russia is such a partner for us. We consider trade in agricultural products, green energy, IT and infrastructure development to be priority areas of cooperation with Russia," Chanthavit Thanthasit emphasized.
Russian companies and agencies drew the attention of the Thai side to the prospects for joint work in the areas of logistics, medicine, and IT technologies. Deputy Commercial Director for Business Development in Asian Countries of FESCO Integrated Transport LLC Alexander Priskoka suggested that Thai businesses use the company's regular services for cargo delivery from the port of Bangkok to the ports of Vladivostok (delivery time was reduced to 20 days), as well as to the ports of Novorossiysk and St. Petersburg (delivery time was reduced to 40 days). In addition, the Chairman of the Russian-Thai Business Council Ivan Demchenko announced the imminent launch of a direct line from the port of Novorossiysk to the port of Bangkok.
Vice President for International Cooperation of AFK Sistema Artem Zasursky revealed the prospects for joint work in the areas of river transport, electronics and forestry industry, IT projects. He placed emphasis on the development of cooperation in the tourism sector.
"The companies in our portfolio, namely travel booking services, are ready to develop cooperation with interested partners in the hospitality industry. We also inform you about the interest of the Russian operator in developing resort projects in the regions of Thailand that are popular with Russian tourists," said Artem Zasursky.
Vice President of the Federation of Thai Industries Thansathit Asi and Vice Chairman of the Thai-Russian Business Council Hemmontharop Wiwat confirmed the Thai side's interest in business cooperation. Thai businessmen noted the prospects for developing cooperation with Russia in the field of medicine, as well as in the field of cybersecurity and decarbonization of production.
During the meeting of the PTES, special attention was paid to cooperation in the creative economy.
"In February, we signed a Memorandum of Understanding with the Agency for Creative Industries of Thailand. We are developing a roadmap for cooperation in the creative industries. We also invite specialized Thai associations to join the joint work and take part in the first International Conference on Creative Economy, which will be held on October 8-9 in St. Petersburg," said Ekaterina Cherkes-Zade, Director of the Center for Creative Economy Development at the Agency for Strategic Initiatives, in her speech.
To develop business contacts between Russian and Thai businesses, Ivan Demchenko invited the PTEC participants to take part in the Russian-Thai Business Forum, which the Russian-Thai Business Council is holding on November 26–28 in Phuket.
"I hope that we will see concrete results of our joint work in the near future. We count on the support of the Thai side in expanding the bilateral economic dialogue between our countries," Vladimir Ilyichev summed up following the meeting.
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