TRADE AND ECONOMIC RELATIONS BETWEEN RUSSIA AND THAILAND

(reference information by the Ministry of Foreign Affairs and the Ministry of Economic Development of Russia).

Thailand stably ranks first among ASEAN countries in volume of bilateral trade with Russia.

In 2012, according to data of the Federal Customs Service of Russia the turnover between Russia and Thailand reduced by 17.8% compared with the year 2011 and made $3.38 billion (as per the Thai data the bilateral turnover exceeded $5 billion). At the same time, the Russian export reduced by 33.9% up to $1.4 billion whereas import reduced by 0,5% up to $1.97 billion. In 2012, Thailand ranked 38^th among the foreign trade partners of Russia. Based on the results of 2012 the share of Thailand in the foreign trade turnover of Russia was 0.4%.

The turnover between Russia and the Kingdom of Thailand in 2007-2012

(according to data of the Federal Customs Service of Russia, USD million)

	2007	2008	2009	2010	2011	2012
TURNOVER	1 336,3	2 729,5	1 373,4	2 906,5	4 117,3	3 383,2
GROWTH RATE %	147,3	204,2	50,3	211,6	141,7	82,4
EXPORT ЭКСПОРТ	330,3	1 232,2	439,2	1 536,3	2 136,0	1 411,7
GROWTH RATE, %	95,1	373,0	35,6	349,7	139,0	66,4
IMPORT	1 006,0	1 497,3	934,2	1 370,2	1 981,3	1 971,5
GROWTH RATE, %	179,7	148,8	62,4	146,7	144,6	99,5

 

In 2012, the following commodity groups composed the structure of the Russian export to Thailand: mineral raw materials (55.5%); metals and metal products (23.4%); chemical industry products (18.2%); machinery, equipment and transport vehicles (1.3%). The main export commodities (over 92% of all supplies) were: crude oil; semi-products of non-alloy steel, complex mineral fertilizers, products of direct iron ore recovery, flat-rolled products of alloy steel.

 

The structure of import was as follows: machinery, equipment and transport vehicles (64.0%); chemical industry products (14.1%); food products and agricultural raw materials (10.6%); textile and textile products, footwear (3,5%); pearls, precious jewels, metals (3.1%), metals and metal products (2.2%). The main imported goods (their import share exceeds 70%) were: motor vehicles, their parts and accessories; television and radio equipment, air-conditioning units, tires, computing equipment (hardware), electric heaters, polyethylene, silver jewelry, canned pineapples, landline and wired and wireless phones, rubber, cane sugar, combined fridge-freezers, canned fish, flat-rolled products of corrosion-proof steel.

 

The key role in the development of tools of cooperation with Thailand is reserved for the Joint Thai-Russian Commission on Bilateral Cooperation (hereinafter Commission), the fourth session of which took place on November 27, 2009 in Bangkok. A Joint Action Plan on advancing cooperation between the Russian Federation and the Kingdom of Thailand for 2010-2014 was signed during the session. The fifth Commission session took place on March 28-29 in Moscow. Denis Manturov, Minister of Industry and Trade of the Russian Federation, was appointed as the Chairman of the Russian part of the Commission.

 

There are two Sub-Commissions in the framework of the Joint Commission – the Sub-Commission on Trade and Economic Cooperation (the first meeting was held on April 17-18, 2011 in Bangkok) and the Sub-Commission on Agricultural Cooperation (the first Sub-Commission meeting took place on April 24-25, 2012 in Pattaya).

 

Bangkok was among the first who acknowledged Russia (in 1999) as the country with the market economy and fully applied to it WTO Anti-Damping Agreement. A Protocol on Russia's accession to WTO was signed with Thailand in 2004.

On January 15, 2009 the bilateral Convention on avoidance of double taxation and prevention of tax evasion related to income taxes dated September 23, 1999 came into force.

Data on trade and economic cooperation between Russia and Thailand as well as information about exhibitions in Thailand you may also see in the Documents section.

Statistics data on foreign trade of Thailand are available on the Ministry of Commerce of the Kingdom of Thailand website.

http://www.ops3.moc.go.th/hs/trade_yearly/#