# Thailand and Russia to Enhance Industrial Cooperation

- Link: https://www.thailand-business-news.com/russia/125019-thailand-and-russia-to-enhance-industrial-cooperation
- Published: 2024-02-02T16:24:06+07:00
- Author: Александр Павлович

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The Ministry of Industry in Thailand has discussed with the Trade Representation
of the Russian Federation about importing steel products, electrical equipment, 
and batteries from Russia.

## Key Takeaways

 * Russia is interested in introducing steel products, electrical equipment, and
   batteries to Thailand.
 * The trade value between Thailand and Russia in 2023 amounted to 53.44 billion
   baht, with Thailand enjoying a trade surplus of approximately 5 billion baht.
 * The Memorandum of Understanding (MoU) between the Ministries of Industry of Thailand
   and Russia aims to enhance cooperation in industrial development, technology,
   innovation, and support for startups and SMEs.

Russia is Thailand’s 37th trading partner and the first within the Eurasian Economic
Union. The trade value between Thailand and Russia amounted to 53.44 billion baht
in 2023, with Thailand having a trade surplus of approximately 5 billion baht.

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There is a Memorandum of Understanding (MoU) between the Ministries of Industry 
of both countries to enhance cooperation in industrial development, focusing on 
technology and innovation, particularly among startups and SMEs. This cooperation
also aims to promote investments in Thailand’s Eastern Economic Corridor (EEC) and
Russia’s Far East region.