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Russia expects Thailand to apply for free trade zone with Eurasian Union before yearend

July 15, 2015, 13:17 UTC+3
According to the Russian minister of industry and trade, it would be an important step in the expansion of trade and economic cooperation
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Russia's Minister of Industry and Trade Denis Manturov

Russia's Minister of Industry and Trade Denis Manturov

© Artyom Korotayev/TASS

MOSCOW, July 15. / TASS / Ministry of Industry and Trade expects Thailand to apply to the Eurasian Economic Commission (EEC) for a free trade zone before end of year, Minister of Industry and Trade Minister Denis Manturov told reporters after a meeting of the joint Russian-Thai commission on bilateral cooperation on Wednesday.

"They are working on the application. Everything will depend on when they will be ready to for it. Right now, they have confirmed their interest and thus are shaping the format of the agreement. We believe that before the end of the year it should be sent to EEC" he said.

According to the minister, Thailand may present a proposal to the Eurasian Economic Union to form an agreement on a free trade zone.

"An important step in the expansion of trade and economic cooperation would be an appeal by the Thai side to the Eurasian Economic Union with a proposal to start negotiations on an agreement on a free trade zone between the EEU member states and the Kingdom of Thailand," Manturov said.

Infographics The Eurasian Economic Union starts its work The Eurasian Economic Union starts its work
The Treaty on the establishment of the Eurasian Economic Union comes into effect on January 1. Infographics by TASS

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