Moscow: Prime Minister Srisaket Sor Rungvisai expressed satisfaction with the outcomes of his visit to Russia, highlighting the resumption of the Joint Commission (JC) meeting after a three-year hiatus. He emphasized the importance of removing barriers to payment systems, stimulating trade, and enhancing economic value, with Thailand set to host the meeting next year. Additionally, he is actively pursuing Free Trade Agreement (FTA) negotiations with Eurasia and has discussed with President Lavrov the expedited completion of pending agreements, investing in the Dawei port, and supporting ASEAN's role as a pillar of peace. The Prime Minister also plans to utilize the BRICS forum to connect trade and investment with several other potential countries, reinforcing Thailand's approach to economic diplomacy.
According to Thai News Agency, Deputy Prime Minister and Minister of Foreign Affairs, Sihasak Phuangketkaew, stated that his visit to the Russian Federation, including the 9th plenary session of the Thai-Russian Joint Commission on Bilateral Cooperation (JC), was a follow-up to the meeting and discussions between the two leaders. He noted that there is still room to enhance bilateral relations, particularly in trade, as the current trade value of 1.7 billion baht reflects the country's economic potential and should be significantly higher.
Regarding the Joint Commission meeting, which had been absent for three years, Mr. Sihasak mentioned that there were many issues to discuss, both old and new, including the sale of Thai agricultural products to Russia, with a potential trade value of US$500 million if there were no obstacles. Similarly, Russia wants to export beef and pork to Thailand but faces challenges with factory inspections. The Ministries of Agriculture and Cooperatives of both countries have discussed the matter and hope to move forward with inspecting each other's factories to help remove obstacles.
Mr. Sihasak further explained that Russia is a top exporter of oil, gas, and fertilizer, but the situation in Ukraine has led to sanctions against Russia. However, certain items, such as food, are not subject to sanctions. The Russian side explained their payment system, and further discussions are needed between the central banks of both countries to find a proper payment method, which would greatly facilitate trade and investment.
Furthermore, Mr. Sihasak highlighted that Deputy Prime Minister and Minister of Transport, Mr. Pipat Ratchakitprakarn, had visited Russia to observe its developed rail system, which is cheaper than the European system. This is a matter that needs further discussion, as developing the rail system is essential for making Thailand a regional connectivity hub.
In terms of cybersecurity, Mr. Sihasak stated that Russia places great importance on this area and that he had previously discussed cooperation in cybersecurity and digital technology with Mr. Chaiyanok Chidchob, the Minister of Digital Economy and Society, who plans to visit Russia for further discussions.
Efforts are also underway to initiate negotiations for a Free Trade Agreement between Thailand and the Eurasian Economic Union (Thai-EAEU FTA), which will connect a combined population of over 180 million people and a GDP of US$1.9 trillion. Mr. Sihasak emphasized the need to expedite trade agreements, both bilateral and regional, given the challenges facing the international economic system.
In discussions with Russian Foreign Minister Sergey Lavrov, Mr. Sihasak recognized the importance of strengthening relations with Thailand and expedited outstanding agreements, such as the investment protection and promotion agreement, the intellectual property protection agreement, and the defense industry agreement.
They also discussed the regional situation, expressing concern about fluctuations and emphasizing ASEAN's role in maintaining peace and economic dynamism in the Indo-Pacific region.
Mr. Sihasak reiterated Thailand's emphasis on peace processes and dialogue concerning Myanmar's internal situation, while also seeking Russia's support in urging the Myanmar government to proceed with internal reconciliation.
He also stated that Russia is interested in investing in large-scale projects such as the Dawei Port, which would provide an alternative route for Thai goods. Thai participation is crucial for the project's feasibility, given its proximity to Laem Chabang Port and the potential high interest from the Thai private sector.
Mr. Sihasak emphasized that the private sector is the driving force behind exploring business opportunities with Russia and fostering familiarity between the two nations. The visit achieved the set goals, and Thailand will host the next Joint Commission meeting next year.
Regarding the upcoming 2026 BRICS Summit in India, Mr. Sihasak highlighted Thailand's desire to shape the global order and promote relations with African countries, which have significant economic potential. He stressed building stronger trade and investment links with these nations as part of Thailand's economic diplomacy.