Russia, Thailand Expanding Bilateral Trade in Agricultural Products
© Sputnik / Denis Abramov / Go to the mediabankAn employee on the territory of the Almaz Fertilizers LLC plant for the production of water-soluble and granular fertilizers in the city of Lermontov, Stavropol Territory.
© Sputnik / Denis Abramov/
BANGKOK (Sputnik) - Russia and Thailand are expanding bilateral trade in agricultural products and goods related to the industry, Russian Ambassador in Bangkok Evgeny Tomikhin told Sputnik on Tuesday.
"Despite the fact that food and agricultural products account for only about 4% of Russian exports to Thailand, agreements have recently been reached on a number of new items, which resulted in new prospects for increasing mutual trade in such goods as meat and milk products, as well as agreements on such an important agricultural topic as mineral fertilizers," he said.
The diplomat added that there had been an increase in trade in agricultural products and a significant growth of interest in this market in recent years.
Speaking about the current structure of Russian-Thai trade, Tomikhin noted that, according to 2022 results, metals and metal products were among the main products exported by Russia to Thailand and accounted for 40% of total exports. Chemical industry products accounted for 23%, mineral products and precious metals both accounted for 10% each, and food and agricultural raw materials about 4%.
Thailand's exports to Russia were 60% machinery, equipment and vehicles, 21% rubber and chemical products, and 12% food.
"In 2022, the trade between our countries amounted to about $2 billion, according to the Russian customs service. This is almost 9.1% lower than in 2021, mainly due to technical difficulties, such as logistical issues and the work of payment mechanisms," the ambassador said.
Russia and Thailand will have opportunities to discuss bilateral trade at various bilateral events scheduled for 2023, the Russian ambassador said.
This includes the the intergovernmental commission on bilateral cooperation, where Russia is expected to be represented by Minister for the Development of the Russian Far East and Arctic Aleksey Chekunkov and Thailand by Foreign Minister Don Pramudwinai, as well as meetings of various subcommissions and working groups, including energy, finance and banking, and tourism.