July 20, 2010

Thailand eyes more poultry exports to Russia

Thailand is attempting to export more goods, particularly frozen chicken, to Russia, Thai Commerce Minister Pornthiva Nakasai said.

Leading Thai exporters visiting Russia, Pornthiva said after holding talks with Russian Economic Development Minister Elvira Nabiullina that she is confident that more trade talks between the two countries would be held in future.

The current visit was successful, said Pornthiva, noting that this year's two-way trade will surpass US$2 billion. She said the value of Thai exports to Russia is projected to rise by half to about US$600 million in 2010 from US$400 million last year.

The Thai Commerce Ministry is scheduled to announce the country's export performances for June and for the first half of 2010 next Tuesday (July 27).

It is expected to also revise up its export projection this year to grow at least 18% or over US$180 billion.

Although several Thai products such as rice, shrimp, seasoning powder and fruit are in great demand in the Russian market, Thai exports to Russia are still low as Thai exporters have put little effort into penetrating the market.

Thailand also has an opportunity to export frozen chicken to Russia. An 18.7% duty will be charged under Russia's export quota and 60% outside the quota. Negotiations on the issue are underway.