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President Hassan Rouhani is officially received by Thai Premier Prayut Chan-o-cha in Bangkok on Oct. 9.
President Hassan Rouhani is officially received by Thai Premier Prayut Chan-o-cha in Bangkok on Oct. 9.

Tehran, Bangkok Keen to Double Trade 

Annual trade between Iran and Thailand is over $210 million

Tehran, Bangkok Keen to Double Trade 

Iran and Thailand aim to focus on a twofold expansion of bilateral trade, by exploiting the potential unlocked after the removal of international sanctions on Iran.

President Hassan Rouhani made the announcement in a meeting between high-ranking Iranian and Thai delegations in Bangkok on Sunday.

"Today, the two governments are willing to foster political, economic, cultural and scientific relations," IRNA quoted the president as saying, in the presence of Thai Premier Prayut Chan-o-cha.

Annual trade between Iran and Thailand is over $210 million.

The conclusion of a nuclear deal between Iran and world powers in July 2015, which put temporary restrictions on Iran's nuclear work, allowed for the lifting of the UN, US and EU punitive measures over Iran's atomic program in January.

"Development and consolidation of bilateral relations between Tehran and Bangkok will advance the interests of the two countries and are a supplement to cooperation between the two regions," he said.

Bangkok can be a bridge to connect Iran with East Asia and Tehran that enjoys vast port infrastructure and access to a widespread network of trade routes and can be a gateway for Thailand to have stronger economic presence in West Asia, Central Asia, the Caucasus and Europe.

Chan-o-cha said the Thai government is determined to deepen bonds of friendship with the Iranian nation.

"We should activate capacities for cooperation as soon as possible," he said. "Iranian firms are welcome to carry out [economic] projects in Thailand and we encourage Thai companies to enter the Iranian market," he said.

The Iranian president is in Bangkok for an official visit and to attend the second Asia Cooperation Dialogue Summit.

Rouhani is expected to address the event, which takes place from Oct. 8-10 titled "One Asia, Diverse Strength".

Thailand is the last stop of a three-nation presidential tour of Southeast Asia that started last Wednesday and also took Rouhani to Vietnam and Malaysia.

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