Embassy of Ukraine in the Kingdom of Thailand

Kyiv 20:33

Trade and economic relations between Ukraine and the Kingdom of Thailand

Trade and economic relations between Ukraine and the Kingdom of  Thailand

Taking into account the Thailand's huge nominal GDP, local income growth and a stable socio-economic situation in the country, Thailand remains the key partner of Ukraine among the countries of the Southeast Asia region for the long-term. Ukraine considers the development of the multifaceted relations with the Kingdom of Thailand in trade and economy as one of the main priorities of its foreign policy in South-East Asia. In its turn, the Ukrainian State with its economic, scientific, industrial and agricultural potential and also geographic location may be important partner for Thailand as a gateway to the markets of the European Union countries.

The past years have demonstrated that Ukraine and the Kingdom of Thailand posses a singificant potential for further development of the bilateral relations, particularly, in the trade and economy sphere.

Trade between Ukraine and the Kingdom of Thailand in 2010 – 2017

(mln. USD)

 

 

2012          

 

 

2013         

 

2014       

 

2015        

 

2016        

 

2017         

Trade

488,83

466,80

329,14

481,01

608,9

463,469

Export

249,19

258,44

159,99

353,02

432,14

265,194

Іmport

239,64

208,36

169,15

127,99

176,77

201,465

Trade balance

9,55

50,08

- 9,16

225,04

255,37

63,729

 

Thai market remains to be important one in South-East Asia for Ukrainian export, especially for exporters of agricultural products. In recent years, bilateral cooperation in the agricultural sector has been rapidly developing. In particular, in 2016, the export of domestic cereals to Thailand has reached more than 300 million USD dollars. In this connection, Thai investors are showing a strong interest in investing in the agro-industrial sector of the Ukrainian economy.

At the same time, the Ukrainian Side is now paying more attention to the diversification of foreign trade and involvement of foreign investments in new areas of cooperation as well as the participation in the perspective mega-projects, proposed by the Government of Thailand.

The Ukrainian Government undertakes active measures for the intensification of bilateral cooperation. Having a great scientific experience in the high technology field (aerospace, telecommunications, and machine building), Ukraine is looking for opportunities to develop these industries. Its share in the global market of space service reached 13%. Ukrainian missiles are also used in International Sea Launch Project. Generally, Ukraine has a complete cycle of space technologies: it produces carrier rockets, services and launches satellites of various types (including the communication satellites, satellites intended to render regional and foreign television and radio broadcasting service, direct television, multimedia and Internet, data transmission, telephony, videoconference, radar system etc.). Over past 20 years, Ukraine launched more than 90 carrier rockets that put about 200 space vehicles into orbit.

The “Antonov” aircrafts, considerable part of which is used as strategic cargo air transporters, are well known all over the world. Therefore, having the above-mentioned potential in the high-tech industry, Ukraine is ready for cooperation with Thailand in these fields.

On May 17, 2017, in the framework of the largest industrial exhibition «SUBCON THAILAND 2017», the Embassy of Ukraine together with the State Agency for Geoinformatics and Space Technology Development held a seminar "Collaboration for the future of Thai Aerospace - Ukraine".  Ambassador of Ukraine H.E. Mr. Andrii Beshta made an opening speech on the potential of Ukraine in the aerospace sector and possible directions of cooperation in this sector between Ukraine and Thailand.

To promote future cooperation between Ukraine and Thailand the Embassy initiated the Trade Agreement. It was signed in the framework of the first ever official visit of the Minister for Foreign Affairs of Ukraine to the Kingdom of Thailand on June 5, 2017. Implementation of the provisions of signed Agreement will substantially boost the bilateral cooperation in the trade-economic sphere.

The list of exhibition events and fairs that take place in Ukraine in 2019