FTI plans to expand Thai, CIS trade to $1.7bn
Section: Economy - The Federation of Thai Industries (FTI) said it plans to expand the trade value between Thai and
the Commonwealth of Independent States (CIS) to $1.7 billion this year, and, in line with the plan, it will commence
negotiations with the Russian Union of Industrialists and Entrepreneurs (RUIE) and the Ukrainian League of
Industrialists next month.
FTI chairman Prapat Bhodhivorakul said that as a follow up of the memorandum of understanding (MoU) FTI had signed
with the RUIE at the last Asia-Pacific Economic Co-operation Summit, negotiations will start next month to expand the
trade values of exports, imports and investments, especially those of and in sugar, steel, automobiles, car parts and
accessories, and electronics and appliances.
"The RUIE will be the gateway for us to enter the CIS and we expect the trade value between Thai and the CIS to
be about $1.7 billion this year," Prapat said.
Currently, Russia is the most important strategic partner in eastern Europe, with a trade value of about $845.2
million. The export items are sugar, computers, processed fruits, rice, gems and jewelry, and apparel, while the import
items are steel, minerals, chemicals and fertilisers.
"About 12 to 15 entrepreneurs will meet with the Russian diplomats and representatives in the private sector
during their tour of Russia slated between June 23 and July 1. The tour will help us to match the strategic partners and
increase the trade values in the future," he said.
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