A Russia–Thailand business dialogue took place in Vladivostok, bringing together government officials, business representatives, and experts from both countries. The focus was on exploring new forms of cooperation amid the transformation of the global economy and the growing importance of Asia-oriented development.
Chairman of the Russia–Thailand Business Council Ivan Demchenko presented the forum’s framework, outlining key topics ranging from the creation of a joint investment hub to the development of logistics, digital technologies, and tourism. According to Demchenko, Russian investments account for 40–50% of Thailand’s foreign real estate market, and the potential for bilateral cooperation far exceeds current figures:
“Today, trade between our countries amounts to only $1.8 billion – clearly insufficient. At the same time, Russia has already invested around $6–7 billion into Thailand’s economy, and the projected tourist flow from Russia to Thailand by 2025 is expected to reach 2 million people. This reflects the real scale of our cooperation and the new prospects for business.”
Deputy Minister of Industry and Trade of the Russian Federation Alexey Gruzdev highlighted opportunities for diversifying cooperation:
“The potential in biotechnology, medical equipment, civil shipbuilding, industrial digitalization, and cybersecurity remains underutilized. E-commerce can also become an important tool for boosting trade. All this will allow us to reach a new level of engagement.”
Russian Ambassador to Thailand Evgeny Tomikhin emphasized the importance of cultural and humanitarian dimensions:
“In two years, we will celebrate the 130th anniversary of diplomatic relations. We have a strong foundation of intergovernmental cooperation, and it is important that major business forums and cultural projects are supported by practical results. The embassy is ready to assist in selecting reliable Thai partners.”
President of the Russian Chamber of Commerce and Industry Sergey Katyrin also voiced support for holding such business dialogues and joint meetings:
“Thailand is one of Russia’s most promising trade and economic partners in Southeast Asia. To unlock this potential, it is essential to strengthen cooperation in cybersecurity, artificial intelligence, the creative economy, and food security. Success, however, depends on the quality of information exchange and the creation of new effective platforms for business dialogue.”
Russia also proposed sharing successful digitalization practices, including a platform that automates tax control.
“This technology has already helped Russia reduce the shadow economy from 80% to 20% and collect over $200 billion in additional taxes from small and medium-sized businesses. We are ready to consider offering such solutions to Thailand,” said Boris Titov, Special Presidential Representative for relations with international organizations in achieving sustainable development goals.
Thai partners also expressed interest in expanding cooperation. Suphakit Tiaravanon, head of C.P. Group, stressed:
“We have been investing in Russia for more than 20 years, primarily in the food industry. I see great potential in digital technologies and robotics. Russia has unique competencies that could be in demand in Thailand.”
The dialogue participants also discussed prospects for establishing a joint investment hub, improving logistics, air connections, tourist routes, as well as launching new projects in sustainable development and renewable energy.
In conclusion, Ivan Demchenko noted that eliminating barriers, simplifying certification procedures, and creating new cooperation chains remain key tasks. In November, both sides plan to meet again at a major investment forum in Phuket, which is expected to become a key platform for signing deals and launching joint initiatives
Russian-Thai Investment Forum official website
Chairman of the Russia–Thailand Business Council Ivan Demchenko presented the forum’s framework, outlining key topics ranging from the creation of a joint investment hub to the development of logistics, digital technologies, and tourism. According to Demchenko, Russian investments account for 40–50% of Thailand’s foreign real estate market, and the potential for bilateral cooperation far exceeds current figures:
“Today, trade between our countries amounts to only $1.8 billion – clearly insufficient. At the same time, Russia has already invested around $6–7 billion into Thailand’s economy, and the projected tourist flow from Russia to Thailand by 2025 is expected to reach 2 million people. This reflects the real scale of our cooperation and the new prospects for business.”
Deputy Minister of Industry and Trade of the Russian Federation Alexey Gruzdev highlighted opportunities for diversifying cooperation:
“The potential in biotechnology, medical equipment, civil shipbuilding, industrial digitalization, and cybersecurity remains underutilized. E-commerce can also become an important tool for boosting trade. All this will allow us to reach a new level of engagement.”
Russian Ambassador to Thailand Evgeny Tomikhin emphasized the importance of cultural and humanitarian dimensions:
“In two years, we will celebrate the 130th anniversary of diplomatic relations. We have a strong foundation of intergovernmental cooperation, and it is important that major business forums and cultural projects are supported by practical results. The embassy is ready to assist in selecting reliable Thai partners.”
President of the Russian Chamber of Commerce and Industry Sergey Katyrin also voiced support for holding such business dialogues and joint meetings:
“Thailand is one of Russia’s most promising trade and economic partners in Southeast Asia. To unlock this potential, it is essential to strengthen cooperation in cybersecurity, artificial intelligence, the creative economy, and food security. Success, however, depends on the quality of information exchange and the creation of new effective platforms for business dialogue.”
Russia also proposed sharing successful digitalization practices, including a platform that automates tax control.
“This technology has already helped Russia reduce the shadow economy from 80% to 20% and collect over $200 billion in additional taxes from small and medium-sized businesses. We are ready to consider offering such solutions to Thailand,” said Boris Titov, Special Presidential Representative for relations with international organizations in achieving sustainable development goals.
Thai partners also expressed interest in expanding cooperation. Suphakit Tiaravanon, head of C.P. Group, stressed:
“We have been investing in Russia for more than 20 years, primarily in the food industry. I see great potential in digital technologies and robotics. Russia has unique competencies that could be in demand in Thailand.”
The dialogue participants also discussed prospects for establishing a joint investment hub, improving logistics, air connections, tourist routes, as well as launching new projects in sustainable development and renewable energy.
In conclusion, Ivan Demchenko noted that eliminating barriers, simplifying certification procedures, and creating new cooperation chains remain key tasks. In November, both sides plan to meet again at a major investment forum in Phuket, which is expected to become a key platform for signing deals and launching joint initiatives
Russian-Thai Investment Forum official website