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Memorandum of cooperation signed by the EEC and the Government of Thailand

Memorandum of cooperation signed by the EEC and the Government of Thailand

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11/19/2018
The document is aimed at enhancing interaction between the States of the Eurasian Economic Union (EAEU) and the Kingdom of Thailand. Over time, it will enable to increase mutual trade in goods and services, and to scale up investments.

The Memorandum was signed on November 19 in Bangkok (Thailand) by the Member of the Board (Minister) in charge of Macroeconomics and Integration of the Eurasian Economic Commission (EEC) Tatyana Valovaya and the Minister of Commerce of the Kingdom of Thailand Sontirat Sontijirawong. “Implementing the memorandum will help strengthen relationships between the EAEU countries and Thailand; it will definitely give new momentum to further direct contacts of business communities’ representatives and will ultimately have a positive impact on the wellbeing of our States’ citizens”, – Tatyana Valovaya highlighted.

The EAEU and Thailand are planning to interact as part of a joint working group. At the same time, the parties will exchange experience, hold joint conferences, forums, roundtable discussions, involving, in particular, business communities’ representatives, and prepare analytical materials.

As mentioned in the document, the purpose of cooperation is developing comprehensive interaction “with a view to increase mutual trade in goods and services, to secure investment growth, to implement measures aimed at eliminating barriers inhibiting trade development and investments attraction”.

The parties intend to cooperate in such areas as regional economic integration, trade policy, customs and technical regulation, sanitary, veterinary and sanitary, and quarantine phytosanitary measures, energy policy, etc.

The memorandum was concluded after the working meeting of Tatyana Valovaya with the Minister of Commerce of the Kingdom of Thailand Sontirat Sontijirawong, where they discussed the algorithm of the EEC’s interaction with the Government of the Kingdom of Thailand, including some plans for joint events. The program of the EEC delegation’s visit also contemplated the meeting with the representatives of Thai business circles.