EAEU, Thailand Sign Memorandum To Boost Trade, Investment - Statement

The Eurasian Economic Commission (EEC) and the Thai government have signed a memorandum of cooperation with the aim to boost bilateral trade and increase investment, the EEC said in a statement on Monday.

MOSCOW (UrduPoint News / Sputnik - 19th November, 2018) The Eurasian Economic Commission (EEC) and the Thai government have signed a memorandum of cooperation with the aim to boost bilateral trade and increase investment, the EEC said in a statement on Monday.

"The EEC and the Thai government have signed a memorandum of cooperation. The document aims to develop collaboration between the Eurasian Economic Union [EAEU] states and the Kingdom of Thailand. It will help increase the trade in goods and services, intensify investment in the future," the statement said.

According to the statement, the two parties intend to cooperate in such areas as regional economic integration, trade policy, customs and technical regulation, energy policy along with harmonizing sanitary and phytosanitary measures.

"The implementation of the memorandum will contribute to strengthening relations between the EAEU countries and Thailand and, for sure, will give an impetus to the development of direct contacts between the representatives of business communities and will finally have a positive effect on the well-being of the citizens of our countries," Tatyana Valovaya, the minister in charge of the main directions of the EEC integration and macroeconomics, said, as quoted in the statement.

The EAEU, comprising Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia, is an organization that encourages regional economic integration through the free movement of goods, services, and people within the union.