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Prime Minister Gen Prayut Chan-ocha has invited Russia to invest in Thailand during the ASEAN-Russia Commemorative Summit in St. Petersburg.
Gen Prayut, who presided over the opening ceremony of Thailand-Russia Business Dialogue, assured Russian businessmen of the viability of 10 new industries in Thailand, including biotechnology, nanotechnology, aircraft manufacturing and digital industry. Russian Minister of Industry and Trade Denis Manturov also participated in the dialogue.
Both sides agreed to raise Thai-Russian trade value by five times to 10 billion dollars in the next five years. The trade value between the two countries currently stands at 2.3 billion dollars. The Thai government has planned to persuade Russian investors to take part in its infrastructure development projects, as part of the national strategic development plan for the next 20 years.
Gen Prayut took the opportunity to voice his appreciation for the long-standing ties between Thailand and Russia. The two nations will mark the 120th anniversary of diplomatic ties in 2017.