Prayuth and Putin confirms good economic relations

Thailand Prime Minister Prayuth Chan-ocha meets up with Vladimir Putin the President of Russia at the 33rd ASEAN Summit held in Singapore. Both parties sat down and had a good conversation together touching on topics relating to the economic relations of both nations. As a result of the previous meeting in China last year, where internally both nations have applied changes to the private and public sectors of the nation to adjust to the resolutions of the meeting in China.


Credit: MThai
Credit: MThai


In the past year, the trade value between Russia and Thailand increased to an overall of 50% compared to the previous year. This represents a fast and constant growth that connects the two nations with good reflections from the economic exchange. President Putin wishes to push the trade value to reach 10 billion US dollars within the year 2020. Prime Minister Prayuth also invites Russia to consider investing within the Eastern Economic Corridor (EEC) in Thailand and also using Thailand as the central market hub for the ACMECS nations.


Prime Minister Prayuth was pleased that the president of EAEU will be visiting Thailand from the 16th to 19th of this month to sign an agreement with Thailand’s Ministry of Commerce. President Putin then informed Prime Minister Prayuth that he will support positive economic relations with Thailand, while also welcoming Thai investors that are planning to invest in Russia.


Prime Minister Prayuth then proceeded to inform President Putin that for the next year of 2019, Where Thailand will hold the ASEAN chair, Thailand will focus on the continuation and the development of previous achievements from nations that have previously held the annual ASEAN chairs. Where Thailand will also plan future goals in public relations as a community together.


Last but not least, Prime Minister Prayuth invited President Putin to be a part of the 2019 East Asia Summit (EAS) while Thailand holds the ASEAN Chair of 2019. President Putin then assures Thailand that Russia looks forward to continuing working with Thailand and that he wishes good luck towards the election that is taking place in Thailand next year.


FB Caption: President Putin wishes good luck for Thailand’s election next year.


Source: MThai