A New Stage of Cooperation: Russia’s Investment Potential Presented for the First Time in Thailand
On December 12, the first offsite session promoting Russia’s business and investment potential was held in Bangkok, Thailand. The event was organized by the Roscongress Foundation with the support of the Embassy of the Russian Federation and the Trade Representation of the Russian Federation in the Kingdom of Thailand.
The session was attended by representatives of government agencies, media, business associations, and Thai businesses from sectors such as IT, healthcare, real estate, industry, energy, retail, agriculture, tourism, and others.
Thailand and Russia maintain effective trade and economic cooperation: in 2023, trade turnover reached $1.5 billion. Speakers at the session expressed confidence that this is not the limit, and that systematic dialogue can elevate cooperation to a new level. The Roscongress Foundation’s projects, presented during the session, play a key role in facilitating this dialogue. Chairman of the Board and Director of the Roscongress Foundation Alexander Stuglev introduced projects such as the St. Petersburg International Economic Forum, Russian Energy Week, the “Let’s Travel!” Russian Tourism Forum, St. Petersburg International Legal Forum, Russian Design Industry Forum, and the Eastern Economic Forum.
“As noted at the recent International Business Forum ‘World of Opportunities: Russia-ASEAN,’ organized by the Roscongress Foundation, interaction with ASEAN countries has been and remains one of the priorities of Russia’s state policy. Thai businesses are already participating in the Roscongress Foundation’s events: for example, in 2023, the Eastern Economic Forum was attended by the Chairman of the Federation of Thai Industries, Kriengkrai Thiennukul, along with representatives of 157 companies from various sectors, including energy and IT. In 2024, Thailand presented a large-scale exhibition at the ‘Let’s Travel!’ Russian Tourism Forum,” said Alexander Stuglev.
Roscongress forums are a “one-stop shop” for exploring Russia’s business and investment potential. For example, Russia offers Thailand favorable business conditions. Special economic territories, such as Advanced Special Economic Zone in the Far East, provide tax benefits and simplified administrative procedures. Thailand is interested in Russian exports and supports tourist flows from Russia. Stable supplies of Russian agricultural products and energy resources sustain Thailand’s domestic industries and help reduce costs.
“Thailand and Russia have built successful cooperation in strategic areas such as energy, agriculture, and security. Discussions between the security councils of Russia and Thailand also address law enforcement matters. In addition, a free trade agreement between Thailand and the EAEU is being considered, which could enhance economic cooperation between our countries. Humanitarian cooperation is also underway, with joint projects in science, education, and culture. I am confident that this session will become the foundation for further work in these areas, including at the largest Russian business events,” noted Ambassador Extraordinary and Plenipotentiary of the Russian Federation to the Kingdom of Thailand Evgeny Tomikhin.
Participation in Russian forums is also an opportunity for Thai businesses to find partners, sign agreements, and discuss joint projects.
“We receive numerous requests from both Russian and Thai businesses for cooperation. Dialogue is more important than ever today for effective interaction and finding solutions to common challenges. That is why Thai businesses must participate in Russian events, including those organized by the Roscongress Foundation. The more companies that join, the greater the cooperation potential we will achieve,” said Trade Representative of the Russian Federation in the Kingdom of Thailand Yuri Lyzhin.
Representatives of the business community also shared their experience of Russian-Thai cooperation: Adit Krisanawong, Executive Director of the Thai Chamber of Commerce and the Board of Trade of Thailand; Konstantin Gorshenev, representative of the All-Russian Public Organization for Small and Medium Enterprises “Opora Russia” in Bangkok; and Dr. Varin Khera, Vice President and Co-founder of Cloudsec Asia.
Participants expressed hope for continued dialogue in 2025 at the St. Petersburg International Economic Forum, scheduled for June 18–21, and at the Eastern Economic Forum in Vladivostok, to be held September 3–6.
