Deputy Prime Minister and Minister of Foreign Affairs Sihasak Phuangketkeow has exchanged views with Russia to promote trade and investment opportunities between Thailand and Russia in potential and targeted sectors.

The Deputy Prime Minister on 13 August 2026 attended a working lunch hosted by Mr. Ivan Demchenko, Chairman of the Russian - Thai Business Council (RTBC), on the occasion of his visit to the Russian Federation.

This occasion provided platform for the Thai and Russian private sectors to strengthen network, leading up to the 2nd Russian - Thai Investment Forum in October 2026 in Bangkok, according to the Ministry of Foreign Affairs.

RTBC was founded in 2006 to promote business and investment development, strengthen business contacts, and expand cooperation between Thailand and Russia. The Council comprises companies across diverse sectors, such as heavy industry, energy, ICT, and logistics.

Also, on 13 August, the Deputy Prime Minister met with Mr. Alexander Novak, Deputy Prime Minister of the Russian Federation, at the House of Government in Moscow. Both sides discussed increasing Thailand - Russia cooperation in trade, investment, agriculture, energy. 

They also discussed enhancing trade facilitation and expediting the process to commence free trade agreement negotiations between Thailand and the Eurasian Economic Union (EAEU) to enhance economic potential and competitiveness of both countries. Russia is Thailand’s 36th trading partner and Thailand’s largest trading partner in the EAEU.

Both sides also exchange views on strengthening cooperation in the economic multilateral framework such as BRICS that Thailand is a partner country.

On the same day, the Deputy Prime Minister met with Mr. Bakytzhan Sagintaev, Chairman of the Board of the Eurasian Economic Commission (EEC), to enhance economic cooperation with the EAEU. Both sides discussed expanding economic opportunities between Thailand and the EAEU, particularly through expediting the process towards commencing the Thailand - EAEU Free Trade Agreement negotiations, and fostering cooperation on AI, e-commerce, connectivity, and green energy, as well as supporting closer collaborations among the private sector of both sides.

The EEC is an international organization for regional economic integration with single market policy. The EAEU Member-States comprise the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic and the Russian Federation. 

Last year bilateral trade between Thailand and the EAEU totaled more than two billion USD. With the population size of more than 180 million and total GDP of 1.99 trillion USD, the EAEU is an emerging market with growing potential for Thai businesses.