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Thailand, Russia target $10 bn in bilateral trade, investment by 2021

May 29. 2017
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By The Nation

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Thailand and Russia have set a target for their annual bilateral trade and investment to reach US$10 billion (Bt340 billion) in 2021, after celebrating 120 years of relations this year.

Both countries have agreed to reduce trade and investment barriers with a view to increasing trade over the next five years, Jariya Sutthichaiya, secretary-general of the Office of Agricultural Economics at the Agriculture and Cooperatives Ministry, said on Monday.

Thailand and Russia will also boost the export and import of agricultural products from last year’s level of Bt6.4 billion, the goal being to achieve double-digit trade growth per year in the sector, she added.

Thailand’s main agricultural exports to Russia are processed fruit, processed tuna, rice and natural rubber, while Russia ships frozen fish, dried fish and wheat flour to the Kingdom.

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