Bangkok: Thailand and Russia are advancing their "economic diplomacy" efforts by accelerating negotiations for a Thailand-Eurasia Free Trade Agreement (FTA). The Thai Foreign Ministry recently unveiled the outcomes of the 9th Joint Commission meeting between the two nations, pinpointing their commitment to resolving existing obstacles, promoting investment in emerging sectors, and paving the way for expanded market access for agricultural products and clean energy.
According to Thai News Agency, the meeting underscored the importance of enhancing logistics, transportation, and tourism ties. Ms. Jaithai Upakarnnitikaset, Director-General of the Department of Information and Spokesperson of the Ministry of Foreign Affairs, elaborated on the discussions held during the 9th plenary session of the Thai-Russian Joint Commission on Bilateral Cooperation (JC).
The session, co-chaired by Thailand's Deputy Prime Minister and Minister of Foreign Affairs, Mr. Sihasak Phuangketkaew, alongside Mr. Alexei Shekunkov, Russia's Minister of Development of the Far East and Arctic Region, centered on fortifying economic cooperation. Addressing pending issues and exploring new trade and investment opportunities were key themes. The meeting, which marked the first in three years, aligned with Thailand's strategic push for economic diplomacy to bolster trade and investment avenues, following ongoing dialogues between Thai and Russian leadership.
Ms. Jaithai highlighted Thailand's ambition to initiate negotiations on a Free Trade Agreement with the Eurasian Economic Union (Thai-EAEU FTA), which includes collaboration with Russia and five other member nations. Discussions have already been initiated with other countries involved. Topics such as trade promotion, market access for Thailand's agricultural and food products, and improving logistics and transportation connectivity were also at the forefront. Thai private sector representatives participated in the meeting to enhance business connectivity.
Energy security and the development of clean energy were also discussed, with tourism cooperation being a significant focus. Russia remains a vital tourism market for Thailand, with around 2 million Russian tourists visiting annually. Continued collaboration in this sector is deemed crucial.
The meetings concluded with an exchange of minutes detailing future cooperation in various sectors. Looking ahead, Thailand is set to host the 10th Joint Commission meeting next year to further these initiatives. Prior to this, the 2nd Russia-Thailand Investment Forum is scheduled to take place in Bangkok in October.
Regarding the FTA with Eurasia, Ms. Jaithai emphasized Thailand's commitment to fast-track negotiations, showcasing the political will to promote tangible economic cooperation. The process entails ongoing discussions, progress monitoring, and continuous support to achieve these aims.