Russia, Thailand Plan to Increase Trade Fivefold in Near Future - Source

© AP Photo / Alexander AstafyevRussian Prime Minister Dmitry Medvedev, left, greets Thailand's Defense Minister Prawit Wongsuwon and Thailand's Deputy Prime Minister Somkit Chatusriphithak, right, during their meeting in Moscow, Russia
Russian Prime Minister Dmitry Medvedev, left, greets Thailand's Defense Minister Prawit Wongsuwon and Thailand's Deputy Prime Minister Somkit Chatusriphithak, right, during their meeting in Moscow, Russia - Sputnik International
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Russia and Thailand plan to boost bilateral trade from some $2 billion to $10 billion in the near future, a Russian government source told reporters on Wednesday.

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MOSCOW (Sputnik) — A Thai government delegation is currently on a visit to Moscow. The delegates include Defense Minister Prawit Wongsuwan and Deputy Prime Minister and Economic Affairs Minister Somkid Jatusripitak, among other officials.

"It is necessary to overcome the tendency [toward a] decrease in bilateral trade that amounted to $2.05 billion dollars in 2015, which is 48.4 percent less than in the previous year [$3.9 billion]," the source said.

The source added that during the bilateral meeting the sides plan to discuss a wide range of issues related to cooperation in trade, economics, investment, science and technology and other areas, with an emphasis on the development of "strategic guidance to further promote [a] multi-faceted partnership."

Earlier in February, Russian Ambassador to Thailand Kirill Barsky told RIA Novosti that relations between the two countries were developing intensively in all spheres, adding that a growing mutual interest in deeper cooperation had been observed.

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