Business news

“Last year our trade stood at $102 million, which is a modest figure for both Belarus and Thailand. I view it only as a start. I think we should increase the bilateral trade by two to three times over the next few years,” Vladimir Semashko emphasized.

The official pointed out that he sees at least seven or eight areas where the countries can strengthen their cooperation. “Belarus attaches much importance to the development of relations with Thailand and views your country as a promising partner in every respect,” Vladimir Semashko pointed out.

Thai Commerce Minister Apiradi Tantraporn said that Belarus and Thailand can complement each other as they both make agricultural products. “Besides, Belarus manufactures heavy-duty machines that Thailand can import. We can also develop cooperation in investments. Tire manufacturing is another promising area. Thailand is a member of the ASEAN, so it can serve as a springboard for Belarusian products to this region,” Apiradi Tantraporn noted.

Thailand is one of Belarus’ key trading partners in Southeast Asia along with Vietnam, Indonesia, and Malaysia. In 2015, Belarus exported $60.1 million worth of products to this country, and imported $42.1 million worth of goods. Belarus’ major exports to Thailand were potash fertilizers (Belarusian Potash Company has a 30% market share in this country), fiberglass, linen fabric, and tires. Belarus imported natural rubber, computers, air conditioners, internal-combustion engines, tinned fruit, nuts, sewing machines, communication equipment, and electronic integrated circuits.

There is an office of Belarusian Potash Company and a Belshina trading house in Singapore. Talks are underway to launch deliveries of Belarusian trucks and buses to Thailand and to start assembling MAZ trucks in one of the industrial parks of Thailand.