Thailand has confirmed its interest in strategic cooperation with the BRICS countries and aims to significantly increase bilateral trade and deepen industrial cooperation with Russia, the chairman of the Federation of Thai Industries (FTI) said.
Speaking in an interview at the St. Petersburg International Economic Forum (SPIEF), Kriengkrai Thiennukul highlighted the long-standing friendship between the two nations and a previously announced goal to boost trade.
“We have to sign the MOU that has been announced many years ago […]. The two organisations, the Thai-Russian Business Council and the Russian-Thai Business Council, have to boost the bilateral trade volume between two countries. We set the goal at US$10 billion because at that time the bilateral trade volume between two countries is lower than our potential,” he said.
The FTI chairman underlined the importance of stepping up bilateral engagement amid global economic shifts in interview with TV BRICS.
“This is a good time for our two countries to explore more opportunities and increase exchanges – not only people-to-people and tourism, but also in trade and investment on both sides,” he said at the TV BRICS studio in the Roscongress International Cooperation Area.
Commenting on Thailand’s recognition as a BRICS Partner Country in 2025, Thiennukul highlighted the group’s demographic and economic significance, noting that joining BRICS would open new opportunities for Thailand.
He also stressed the importance of cooperation in the industrial sector, linking it to the country’s economic strategy.
“This is also the strategy of the Thai people, because in Thailand, as you know, our GDP relies 60% on exports. So we are looking for new markets. This is the way forward, and we are excited about the prospect of becoming a BRICS member in the near future.”
