Economy
Thai Chamber of Commerce Proposes FTA with EAEU to Boost Trade
The Thai Chamber of Commerce is pushing for a Free Trade Agreement with the Eurasian Economic Union, aiming to increase bilateral trade with Russia to $5 billion within five years.
According to a report by Prachachat Business, the Thai Chamber of Commerce recently joined a delegation led by Sihasak Phuangketkeow to Russia to explore new trade and investment opportunities. The delegation proposed a roadmap aimed at increasing the value of trade between Thailand and Russia to $5 billion over the next five years.
Key elements of the proposal include efforts to unlock market access for Thai tuna and pet food products. In exchange, the roadmap suggests facilitating the import of 1 to 2 million tons of Russian fertilizer annually. Furthermore, the Chamber is actively advocating for a Free Trade Agreement (FTA) between Thailand and the Eurasian Economic Union (EAEU), a move intended to connect Thailand with a market of over 185 million people.
For residents and travelers, this initiative signals a potential shift in trade relations that could influence the availability and pricing of specific imported goods, such as fertilizers and food products. While the proposal aims to strengthen economic ties, it remains a strategic roadmap. The formal establishment of an FTA and the specific timelines for these trade adjustments are yet to be confirmed through official government negotiations and policy implementation.