Bangkok: Thailand has made significant progress in negotiations to establish a joint committee on trade and economic cooperation with Belarus and is seeking Belarusian support for a Free Trade Agreement (FTA) with the Eurasian Economic Union (EAEU). The development could enhance economic ties and open new markets for both countries.
According to Thai News Agency, Ms. Nalinee Taveesin, the Thai Trade Representative, discussed the ongoing efforts with Mr. Uladzimir Baravikou, the Ambassador of Belarus to Thailand, currently residing in Hanoi. Belarus, a member of the EAEU alongside Kazakhstan, Kyrgyzstan, Armenia, and Russia, is considered a market with potential for Thailand. Taveesin emphasized the importance of Belarus’s support in the FTA negotiations with the EAEU, which could significantly boost Thailand’s economic growth and export capacity.
Taveesin highlighted the nearing conclusion of the memorandum negotiations, which aim to establish the joint committee focusing on 12 areas of cooperation, includi
ng trade, investment, tourism, and culture. The agreement is expected to promote and expand economic ties, facilitating closer collaboration between Thailand and Belarus.
The Thai Trade Representative also invited Belarusian businesses to participate in trade exhibitions in Thailand, such as Thaifex Anuga Asia and Style Bangkok. These events are seen as valuable opportunities for entrepreneurs to engage in business discussions and showcase products to potential investors and consumers.
Further discussions between Taveesin and the Belarusian ambassador covered the potential benefits of the Thailand-EAEU FTA. The agreement is anticipated to positively impact the Thai economy, enhancing exports, improving welfare, and increasing employment. It aligns with Thailand’s policy to establish itself as a global food supplier and addresses food security in the EAEU region.
In 2023, Belarus ranked as Thailand’s 125th largest trading partner globally and the third largest among EAEU countries, with trade valued at 55.7
1 million US dollars. Key Thai exports to Belarus include electrical appliances, plastic pellets, embroidered fabrics, and components like faucets and valves.