Navigate Up
Sign In
Chairman of the EEC Board Tigran Sargsyan and Prime Minister of Thailand Prayut Chan-o-cha emphasized increase in goods turnover between the Kingdom and the EAEU countries

Chairman of the EEC Board Tigran Sargsyan and Prime Minister of Thailand Prayut Chan-o-cha emphasized increase in goods turnover between the Kingdom and the EAEU countries

IMG_7807 (1).jpg
11/19/2018

Prospects for cooperation were discussed on November 19 in Bangkok by the Chairman of the Eurasian Economic Commission’s Board (EEC) Tigran Sargsyan and the Prime Minister of the Kingdom of Thailand Prayut Chan-o-cha.
This meeting preceded the signing of the Memorandum of Cooperation between the EEC and the Government of the Kingdom of Thailand.
“Over the recent years, we have been observing significant growth in goods turnover between the EAEU and Thailand. It increased by 26% in 2017, and in January – August 2018 it grew by almost 29% as compared to a similar period of the previous year. I am sure that concluding the memorandum of cooperation will give momentum to the development of trade in goods and services and, in general, will enable to unleash the potential of continued deepening of interaction”, – highlighted the Chairman of the EEC Board.
According to the Chairman of the EEC Board, signing of memoranda with both Thailand and the ASEAN serves as a solid foundation not only to arrange business forums, meetings, working groups but also to discuss those barriers faced by the States and business communities. Identifying such barriers is an important step towards eliminating them and establishing favorable investment climate.
In turn, the Prime Minister of Thailand stated that cooperation between the EAEU and the ASEAN was quickly progressing both at the level of associations and between the parties individually. “In the face of constraints in global trade observed nowadays it is important to take the path of deepening trade and economic relations”, – believes Prayut Chan-o-cha. The Head of the Government of Thailand expressed his hope that the memorandum will provide fertile ground for subsequent discussion of prospects for the free trade area (FTA) agreement between the Kingdom and the Union States as well as – at a particular stage – for FTAs between the countries of the ASEAN and the EAEU.
In his opinion, concluding the Memorandum of Understanding between the EEC and the ASEAN in the presence of the leaders of the association’s Member States and the President of the Russian Federation Vladimir Putin is a milestone event. Moreover, the Prime Minister of Thailand mentioned that the memorandum concluded by the EEC and Thailand opened another channel for interaction between the Kingdom and the EAEU Member States, which would increase the dialogue’s efficiency. Prayut Chan-o-cha also reported that he had discussed the issue of deepening relations between Thailand and the EAEU countries during his last meeting with the Chairman of the Government of the Russian Federation Dmitry Medvedev, where he had noted the importance of developing trade and economic relations between Thailand and the Union countries.
He mentioned the increase in tourist traffic not only from the Member States to Thailand, but also in the opposite direction, which is essential for establishing more trust-based relations between the parties.
“Thailand is actively developing the creation of the Eastern Economic Corridor which will unite ten industrial branches: five traditional and five innovative ones. We hope that the EAEU States will take part in forming this corridor, which will serve another stimulus for the evolution of trade and economic relations”, – said Prayut Chan-o-cha.
In the context of realizing the integration potential of the Union’s branches, prospective areas of cooperation may include the interaction in tourist as well as industrial and innovative spheres.
Following the meeting, Tigran Sargsyan and Prayut Chan-o-cha were present at the ceremony of concluding the Memorandum of Cooperation between the EEC and Thailand. The document was signed by the EEC Member of the Board (Minister) in charge of Macroeconomics and Integration Tatyana Valovaya and the Minister of Commerce of Thailand Sontirat Sontijirawong.