Trade volumes between Bangkok and Moscow expected to increase in 2022

By Al Mayadeen English
Source: Agencies
2 Dec 2022 12:44

Russia seeks to expand in Asian markets at a time when Thailand is looking to expand cooperation with Russia.

Trade between Bangkok and Moscow expected to increase (Getty Images)

Cooperation in new areas between Thailand and Russia as the former expects trade volumes to increase in 2022 according to the Thai Ambassador to Moscow, Sasiwat Wongsinsawat.

Wongsinsawat revealed that "the trade target is still in our plan. However, due to the current disruption in the global supply chains and challenges posed by current economic and financial measures, we must be practical and innovative in our approaches."

The ambassador added that "for this year, we expect that the trade volume should increase," noting that "however, it remains to be seen by how much."

The envoy said that conventional commerce in commodities between Russia and Thailand needs to continue, and that the two countries should also look at commercial ventures in other sectors that call for little to no logistical planning.

The ambassador continued by stating that Bangkok was prepared to supply spare auto parts to Russia and explained that "some Russian companies and local governments have shown their interest to buy spare parts from Thailand." However, the ambassador added that Bangkok was awaiting from Moscow a list of the required products and their volume.

Additionally, Wongsinsawat stated that the "replacement parts that are universal in character or in nature, for example, oil filters, car's air filters, rubber parts, as well as other auto accessories, are ready for export to Russia."

The envoy expressed hope that Russian and Thai service providers may work together to discover more creative ways to "facilitate more volume of tourists, trade, and services between our two countries."