Preparation, Partners and Compliance Key to Russia–Thailand Trade, Forum Hears

 

Panellists at the Russian-Thai Investment Forum say preparation, local partners and regulatory compliance will decide how far bilateral business can grow.

 

Russian and Thai business leaders and officials agreed on Friday (October 30) that growing bilateral commerce will depend on thorough preparation, reliable local partners and a clear grasp of each other’s regulations and business culture.

 

They were speaking at a panel on the “Made in Russia” National Pavilion and the Russian-Thai Trade Platform, part of the business programme of the Russian-Thai Investment Forum 2026.

 

The session opened the two-day forum (30-31 October), which aims to strengthen trade and business ties between the two countries. Moderator Vladimir Kovalev, executive director of the Russian-Thai Business Council (RTBC), said this was the second edition.

 

The first drew more than 1,000 participants, while this year’s was expected to bring together more than 2,000 from more than 50 countries, with over 800 companies represented. He said cooperation extended beyond trade to investment, sport and culture, and gave the forum’s motto as “let’s tie our investments, let’s tie our people, let’s tie our mindset”.

 

 

Common themes: preparation, partners and standards

Speakers from both countries returned repeatedly to the same points. Entering a new market is hard, a good local partner is vital, and problems with certification, licensing, documentation and local law are best addressed before goods ship or money is committed.

 

Alexey Murzenok, managing director for international trade at the Russian Export Center (REC), the forum’s general partner, said the centre helps Russian companies build a long-term presence in Thailand. 

 

 

He listed certification, standardisation, legal set-up, marketing and promotion under the national “Made in Russia” brand among its tools, and named the National Food Institute of Thailand (NFI) as its main partner this year.

 

Paiyada Hanchaisuksakul, president of the NFI, said the food and agricultural sector offered significant opportunities for trade and joint ventures. She outlined the institute’s support for exporters, including help with navigating the market, publications, ISO training and setting up production in Thailand.

 

She encouraged joint “success stories” between Russian and Thai producers, a point Kovalev echoed, calling them the best way for business to show what is possible.

 

Chanwit Yuchua, senior standards officer at the Thai Industrial Standards Institute (TISI), addressed the role of standards and certification in meeting quality and regulatory requirements for industrial goods.

 

 

Reducing risk between factory and shelf

Diego Sala, CEO of Siam Trade Development, said exporters face the greatest risk in the first 90 days, between leaving the exporter’s premises and reaching the shop shelf.

 

He identified three recurring problems:

• Certificates: quality certificates that cover a different product code or are not recognised by the importing side.

• Licences: additional licences or notifications discovered too late, sometimes when goods are already being packed.

• Labels: labels that do not match licences or shipping documents, often spotted at customs when it is too late to fix them. His advice was to check before shipping that all documents are consistent and valid. He added that product claims, particularly for food and cosmetics, can also be challenged after goods reach the market, so should be verified beforehand.

 

 

 

He said he had seen contracts signed and later cancelled over small certification issues, including an ISO 22000 certificate that was not accepted.

 

“The best shipment is the one that arrives without problems,” he said.

 

 

Legal and cultural pitfalls

Dmitry Shokhin, founder of Legal Pool, said that in 30 years of practice his most complex cases came from clients who had not done their homework.

 

He highlighted several areas for foreign investors:

• Ownership: The traditional structure of 51 per cent Thai and 49 per cent foreign ownership has come under stricter scrutiny. He cited a 2024 case in Phuket in which companies owning real estate were inspected to determine whether their structures were genuine. He said new legislation allows authorities to check who is actually financing a venture, and that investors may be asked to produce bank records. Full foreign ownership is difficult unless an exception applies, such as Board of Investment (BOI) promotion.

• Land: Foreigners face restrictions on owning land and are generally limited to relatively short leases unless an exception applies, such as land for a factory.

• Licences: Establishing a company does not by itself permit it to operate, so a good local partner is important.

• Employment: Dismissing long-serving staff can be very difficult, with notice periods of up to about 400 days after many years of service. Employing foreigners is also subject to rules, including requirements to employ Thai nationals alongside them and to meet minimum capital levels.

• Data protection: Personal data rules are increasingly enforced. He cited a Thai telecoms provider reportedly fined about $7 million over a data breach it did not report in time, and for lacking a proper data protection officer.

• Disputes: Court cases in Thailand can take a long time. He recommended arbitration, noting that Thailand is party to the New York Convention, although enforcement still goes through Thai courts.

 

Shokhin also stressed culture. He said the Thai concept of sabai (being relaxed or easy-going) does not mean doing business carelessly. He added that kreng jai, the idea of not embarrassing others, means a hesitant answer may be a polite refusal.

 

He advised confirming discussions in writing and avoiding public criticism, citing a foreign blogger who faced a criminal defamation charge over a negative review.

 

 

Adapting products for Thai consumers

Natalia Belyashova, deputy general director of Belevskaya Confectionery Company, described a three-year effort to bring the firm’s apple-and-egg-white pastila to Thailand.

 

She said consumers in Thailand and wider Southeast Asia favour flavours such as matcha and pistachio, craft products, photogenic food and drinks, health and gut-friendly products, and convenient single portions. The company repackaged its product as a small apple dessert snack to suit local tastes.

 

Kovalev called it a good example of adapting a Russian brand for an international audience. The company is also taking part in a “Made in Russia” festival in Bangkok’s Lumpini Park alongside the forum, where visitors can taste and buy Russian products.

 

 

Regional delegations and company plans

Kovalev said delegations from Moscow and the Krasnodar Region were attending, the latter led by Governor Veniamin Kondratyev and accompanied by businesspeople seeking to open the Thai market for regional companies.

 

Mikhail Lelyuk of the Fanagoria agro-industrial firm, based in Krasnodar, spoke about plans to introduce Russian wines to Thailand. Armen Arapetyan, co-owner of Siberian Organic, discussed the potential of Russian organic producers in a growing market for healthy food.

 

Evgeny Korenkov of Chernogolovka Group was also on the panel, which heard that the company aims to expand exports to new markets with REC support.

 

 

Thailand as a regional gateway

Kasemsit Pathomsak, vice chairman of the Board of Trade of Thailand, said the organisation, part of the Thai Chamber of Commerce, is the country’s leading private-sector body, with more than 200,000 members and a young entrepreneurs’ network of close to 10,000.

 

He described the two economies as complementary: Thailand is an agricultural and food-producing country, while Russia can supply energy and fertilisers.

 

He said Thailand’s links to the wider ASEAN region mean success in the Thai market can open the way to neighbouring countries with similar tastes and climates. He also pointed to tourism, saying Thais are keen to visit Russia for its snow. He acknowledged obstacles, including differing sanitary, customs and product standards, as well as sanctions and payment issues.

 

“There’s still a lot to solve,” he said, but with government-to-government, business-to-business and people-to-people links, solutions can be found.