The cabinet of ministers set the task in the near future of increasing the volume of bilateral trade to 1.7 billion dollars from the present roughly 650 million dollars, said Thai trade representative Prachuab Chayasan.
Speaking in Bangkok after the opening of a seminar on "Russia: a New Market for Thai Small and Medium Enterprises," he emphasized that the Russian market possesses tremendous potential for the Kingdom's subjects, especially in consumer goods and electronic components.
The Thai government has already instructed the EXIM bank to open a special credit line of 20 million dollars to invigorate trade deals with Russia, he added.
"Thailand's Defense and Science ministries are negotiating with the Russian government and private sector for Russian companies to be allowed to open plants in Thailand, which may give rise to a tremendous volume of future investment," TNA concluded.
