Turning up the Thai-mometer: Thailand and Russia in heated talks for free trade pact

[snoop1130]

 

Thailand is turning up the heat on trade negotiations with Russia, as both nations look to seal a dynamic free trade agreement with the Eurasian Economic Union (EAEU).

 

Recent high-stakes discussions at the Commerce Ministry between Thailand’s Commerce Minister, Pichai Naripthaphan, and Russian Deputy Minister of Agriculture, Sergey Levin, underscored a shared ambition to boost trade and investment. The spotlight is particularly on the high-tech and artificial intelligence sectors, a realm where Russia enjoys a solid reputation.

 

Pichai highlighted how the shift of data centres and printed circuit board production to the Land of Smiles is enticing further investments, especially in the realm of digital innovations. He also stressed Thailand’s strategic role as a formidable global food hub, leading the charge in food security.

 

“We are urging Russia to boost its imports of Thai rice and food products.”

 

Pichai added Thailand’s keenness to ramp up its export game. On the flip side, Russia has nudged Thailand to up its imports of Russian agricultural goods like wheat, dairy, and livestock.

 

Thailand is gearing up to host the fifth Meeting of the Sub-committee on Trade and Economic Cooperation with Russia in early 2025. This gathering of the economic bigwigs aims to strengthen their partnership across several sectors that promise mutual benefits.

 

The Kingdom of Thailand is also eyeing support from Russia in striking a free trade deal with the EAEU, a move slated to open up a treasure trove of trade and investment prospects. The EAEU, a powerhouse bloc including Russia, Armenia, Belarus, Kazakhstan, and Kyrgyzstan, boasts a population nearing 200 million and a GDP hitting a whopping US$5 trillion.

 

In 2023, although Russia was Thailand’s 37th-largest trading partner, it led among the EAEU nations. From January to September 2024, trade between the two amounted to US$1.19 billion, making up 0.26% of Thailand’s total trade. Thai exports to Russia hit US$610 million, with imports from Russia at US$578 million, resulting in a trade surplus of US$32 million.

 

Thai export staples to Russia include rubber products, vehicles and auto parts, and machinery. Meanwhile, imports from Russia mainly consist of fertilisers, pesticides, metal ores, scrap metal, and chemicals, Bangkok Post reported.

 

As ties tighten and trade talks tick on, all eyes are on how this budding economic relationship between Thailand and Russia will unfold.

 

By Bob Scott

Picture courtesy of Bangkok Post

 

Source: The Thaiger

-- 2024-11-01

 

 

[Pouatchee]

What a sell out! 

[Will B Good]

 

I cannot believe they have the gall to negotiate a trade agreement let alone go public with it.........

 

Detailed, verified breakdowns of Ukrainian civilian deaths due to the war, especially by gender and age, are hard to come by amid ongoing conflict. However, the UN and humanitarian organizations estimate that the conflict has caused tens of thousands of civilian deaths, with men, women, and children.

 

By mid-2024, civilian casualties were estimated around 11,500 by the United Nations High Commissioner for Human Rights (OHCHR). 

[dinsdale]

13 minutes ago, Will B Good said:

 

I cannot believe they have the gall to negotiate a trade agreement let alone go public with it.........

 

Detailed, verified breakdowns of Ukrainian civilian deaths due to the war, especially by gender and age, are hard to come by amid ongoing conflict. However, the UN and humanitarian organizations estimate that the conflict has caused tens of thousands of civilian deaths, with men, women, and children.

 

By mid-2024, civilian casualties were estimated around 11,500 by the United Nations High Commissioner for Human Rights (OHCHR). 

Remember Thailand directed all government offices and schools to fly the flag at half mast (for a week) when Raisi "the butcher of Tehran" was killed in a helicopter crash (I wondered at the time if Mossad was involved in this one). They don't care who they do deals with.

Edited 22 hours ago by dinsdale

[Will B Good]

5 minutes ago, dinsdale said:

Remember Thailand directed all government offices and schools to fly the flag at half mast (for a week) when Raisi "the butcher of Tehran" was killed in a helicopter crash (I wondered at the time if Mossad was involved in this one). They don't care who they do deals with.

 

 

They are the ultimate in......

[mfd101]

And not the slightest hint in the article of the international & strategic implications of doing deals with Russia.

 

Which probably reflects the serene ignorance of the Thai government.

[Maejo Man]

While the rest of the civilised world has imposed heavy sanctions on Russia; Thailand openly courts a trade agreement! I am really at a loss for words.

[blazes]

16 hours ago, dinsdale said:

Remember Thailand directed all government offices and schools to fly the flag at half mast (for a week) when Raisi "the butcher of Tehran" was killed in a helicopter crash (I wondered at the time if Mossad was involved in this one). They don't care who they do deals with.

 

Just like the USA, then.....

 

[Srikcir]

Russia's inflation rate is expected to be higher than Thailand's in 2024

Russia 8–8.5% by the end of 2024 vs Thailand 0.6% in 2024

In October 2024, the Bank of Russia raised its key interest rate to 21%, a record high that surpassed the 20% rate set in response to Russia's invasion of Ukraine in 2022.

The Bank of Thailand's key interest rate, the 1-day repurchase rate, was 2.5% in April, June, and August 2024.

 

This economic imbalance does not favor significant trade with Russia. Look elsewhere Thailand.

 

 

 

[dinsdale]

3 minutes ago, blazes said:

 

Just like the USA, then.....

 

I would like to see this backed up that the USA ran their flags half mast for the "butcher of Tehran's" demise.

[Zack61]

A good indicator of one’s character is the friends they keep. 

[AndreasHG]

16 hours ago, snoop1130 said:

Russia was Thailand’s 37th-largest trading partner, it led among the EAEU nations.

 

Russia can only lead among the EAEU nations, i.e. five post-Soviet states located in Eurasia (Armenia, Belarus, Kazakhstan, Kyrgyzstan, plus Russia). Its place in the world is 37th. 

 

[harryviking]

Maybe Thailand should be looking for more friendly and peaceful "friends"?? What is it about criminal mafia states that Thailand do not get??🙄🙄 This is a goodwill sign to a state that kills women and children every day in a peaceful country. I am shocked and just amazed by such a a tasteless and VERY DUMB way to go! Thailand could now be boycotted and get harsh punishment from the free and civilized world! Has Thailand left that path and joined the evil forces?? 😫😮😣🙄🤮

Edited 6 hours ago by harryviking

[Guderian]

It's often said that Christian societies are cultures guided by a feeling of guilt, while Buddhist societies are guided by a sense of shame. Hence the importance of not losing face in Thailand, for example. Yet the current crop of Thai politicians are completely shameless. OTOH, since they're all two-faced, maybe losing face isn't such a big issue for them, lol.

[KhunLA]

TH exports to RU

 

RU exports to TH

[newbee2022]

17 hours ago, snoop1130 said:

 

Thailand is turning up the heat on trade negotiations with Russia, as both nations look to seal a dynamic free trade agreement with the Eurasian Economic Union (EAEU).

 

Recent high-stakes discussions at the Commerce Ministry between Thailand’s Commerce Minister, Pichai Naripthaphan, and Russian Deputy Minister of Agriculture, Sergey Levin, underscored a shared ambition to boost trade and investment. The spotlight is particularly on the high-tech and artificial intelligence sectors, a realm where Russia enjoys a solid reputation.

 

Pichai highlighted how the shift of data centres and printed circuit board production to the Land of Smiles is enticing further investments, especially in the realm of digital innovations. He also stressed Thailand’s strategic role as a formidable global food hub, leading the charge in food security.

 

“We are urging Russia to boost its imports of Thai rice and food products.”

 

Pichai added Thailand’s keenness to ramp up its export game. On the flip side, Russia has nudged Thailand to up its imports of Russian agricultural goods like wheat, dairy, and livestock.

 

Thailand is gearing up to host the fifth Meeting of the Sub-committee on Trade and Economic Cooperation with Russia in early 2025. This gathering of the economic bigwigs aims to strengthen their partnership across several sectors that promise mutual benefits.

 

The Kingdom of Thailand is also eyeing support from Russia in striking a free trade deal with the EAEU, a move slated to open up a treasure trove of trade and investment prospects. The EAEU, a powerhouse bloc including Russia, Armenia, Belarus, Kazakhstan, and Kyrgyzstan, boasts a population nearing 200 million and a GDP hitting a whopping US$5 trillion.

 

In 2023, although Russia was Thailand’s 37th-largest trading partner, it led among the EAEU nations. From January to September 2024, trade between the two amounted to US$1.19 billion, making up 0.26% of Thailand’s total trade. Thai exports to Russia hit US$610 million, with imports from Russia at US$578 million, resulting in a trade surplus of US$32 million.

 

Thai export staples to Russia include rubber products, vehicles and auto parts, and machinery. Meanwhile, imports from Russia mainly consist of fertilisers, pesticides, metal ores, scrap metal, and chemicals, Bangkok Post reported.

 

As ties tighten and trade talks tick on, all eyes are on how this budding economic relationship between Thailand and Russia will unfold.

 

By Bob Scott

Picture courtesy of Bangkok Post

 

Source: The Thaiger

-- 2024-11-01

 

 

Yeah, open the doors for more Russians, more crimes and frauds. Bravo 👏

[Hardcastle P]

The talk of PCB let's not forget the components that will be  on them . The same components the west and most of ghe world has placed sanctions on Russia from acquiring to produce audanance to use against Ukraine , sanctione busting. 

[hotchilli]

17 hours ago, snoop1130 said:

Thailand is turning up the heat on trade negotiations with Russia, as both nations look to seal a dynamic free trade agreement with the Eurasian Economic Union (EAEU).

You take everything we send you, and we'll tariff the hell out of everything you send here.

Thailands free-trade policy

[mfd101]

41 minutes ago, Guderian said:

It's often said that Christian societies are cultures guided by a feeling of guilt, while Buddhist societies are guided by a sense of shame. Hence the importance of not losing face in Thailand, for example. Yet the current crop of Thai politicians are completely shameless. OTOH, since they're all two-faced, maybe losing face isn't such a big issue for them, lol.

Yes, or to put it a slightly different way: In Thailand TRUTH is not a cultural value, APPEARANCES are.

[black tabby12345]

Thailand has been known for its skillful diplomacy for centuries.

Hope  they can well take  advantage of the doomed Poo-tin  Empire for oil for less, for the better being of the people in this kingdom.

I normally hate the exploitation of the  people/country  in difficulty.

But the bandits & pirates are the exception.

 

Edited 5 hours ago by black tabby12345

[StraightTalk]

1 hour ago, Maejo Man said:

While the rest of the civilised world has imposed heavy sanctions on Russia

Sanctions have never worked and never will - in fact, Russia is thriving as a result.

[StraightTalk]

Educational/informative reading:

https://www.bbc.com/news/world-europe-60125659
What impact have sanctions had on Russia's economy?

In 2022, the first year of the war, Russia's economy shrank by 2.1%, according to the International Monetary Fund.

However, it estimates that Russia's economy grew by 2.2% in 2023 and predicts growth of 1.1% in 2024.

Nevertheless, the US Treasury claims sanctions are damaging Russia, having cut 5% from the economic growth it might have had over the past two years.

But Dr Snegovaya suggests: "Sanctions have not made waging this war sufficiently costly for Russia, and that means it can continue with it for some time to come".

===

https://gcaptain.com/60-minutes-dark-fleet-special-how-sanctions-busting-oil-trade-keeps-the-kremlin-afloat/

https://www.cbsnews.com/news/russia-works-around-international-sanctions-amid-war-with-ukraine-60-minutes-transcript/

[kimamey]

2 hours ago, StraightTalk said:

Sanctions have never worked and never will - in fact, Russia is thriving as a result.

They doing OK for now but much of their economy is based around the war. I don't think that advantage will last forever. The economy won't suddenly collapse, but it will, and in some respects it already  has,  come under pressure.

[Sigmund]

Of course no problem for the fools in Europe and America to contiue to deal with Israel and sell them arms that a committing daily horrors and war crimes against civilians.

 

Thailand must join the BRICS+ like many other global players. Thailand must not make the foolish mistakes of Europe in adopting the American sanctions against Russie. These sanctions are destroying the economy of the. west and are making all the people angry as their wallet is directly hit.

 

Europe anycase is slowly destroying itself. Thailand must follow that path. Join trade with Russia or any other country that will sell cheap energy. The first duty of any country is to take care of it's own and not to take care of the interests of America or any other bully nation of Europe.