The DESIRE to SURPRISE: PM Russia Dmitri Medvedev (left) and PM Thailand Prayut Chan-o-cha at the signing of a document after the talks Russia-Thailand in Bangkok. Thailand's desire to build a free trade zone with the Eurasian Economic Federation (EEU) international observers very surprising, because Thailand are still not able to regulate its fishery industry have got "yellow card" from the European Union. It will likely be followed by a "red card" that would mean a ban on the import of fisheries of Thailand to the European Union.
Bangkok Thailand expressed his desire to build a free trade zone with the Eurasian Economic Federation (EEU) leadership of Russia, and is expected to deliver his request for it later this year, said Minister of trade and industry of Russia Denis Manturov. But it will certainly be very surprising international observers, because Thailand still has not been able to organize its fishery industry, which makes the European Union (EU) issued a "yellow card" and might be followed by the "red card," which means a ban on the import of fisheries of Thailand into the EU.
International concerns expressed against the existence of forced labor and human trafficking in its fishery industry also means a willingness to join Thailand EEU certainly motivated by the fact that the country was very doubtful, immediately face sanctions from the EU, and other trading options pursued outside the EU. However, if this is possible, and can obviously be another issue again-why the country still can and are allowed to trade when such far still showed no willingness to regulate her own home.
To quote Denis Manturov, news agency says Russia RT, Eurasian Economic Commission is waiting for a request from Thailand that will lead to "concrete talks" about the free trade zone.
According to Manturov, bilateral cooperation following a meeting earlier last July, there will be a separate decision regarding various sectors "sensitive," such as a car, as in the case of a trade zone deal with Viet Nam. Last may, Viet Nam signed the first free trade zone agreement between the third party and EEU.
Manturov said, "the ball is now in the hands of the courts." Thailand is said to be preparing a final draft of his proposal.
PM Russia Dmitri Medvedev earlier said, his country would like to sign a free trade zone agreement with 40 countries. Currency Union that allows with the other Member countries within the EEU also under consideration, he added.
"I propose to my colleagues (PM Thailand Prayut Chan-o-cha), in order to consider the possibility of forming a free trade zone with the EEU as we did with Viet Nam," said Medvedev in an interview with Thai media.
Still to be Tested
But the motivation of Russia still had to be tested--with EU-Russia relations are at the lowest point for decades of conflict Ukraine, it must be questionable whether Russia tried to expand the EEU with countries of the CIS (Commonwealth of independent States composed of 12 former Soviet republics) simply as "negative response" challenge against the EU.
On the signing of the document the formation of EEU, Russia President Vladimir Putin says, signing it opened a new "era". However, rather than creating a "pole" or "entanglement" in its own geopolitical between Europe and Asia, as Putin claimed in 2011, EEU seems much more to change the image toward the disbursement of a bevy of other post-Soviet, away from the original plan of the Federation.
EEU plan offers cross-border share trading in 2016, said Secretary of the Economic Commission of the Eastern Eurasian Suleimenov, last June.
EEU launched this year and is based on the Federation of customs in Russia, Kazakhstan and Belarus. The economic bloc was designed to secure the free movement of goods, services, capital and labor force within its borders.
Armenia joined the blocks it in 2014, and President Vladimir Putin recently signed a law to ratify the membership of Kyrgyzstan within the EEU.
"We are waiting for the final demand of our colleagues, which should be sent to the Eurasian Economic Commission (EEC), Russia Federation in order to be able to engage in kongkritnya conversation later," said Manturov.
It all depends on the readiness of Thailand, which has already confirmed its desire and are processing the format of final approval, said Manturov. He added, Russia is also being processed the likelihood of future currency unions with Member States of the EEU. India started negotiations on free trade zone with the block and has already signed a framework agreement at the International Economic Forum in St. Petersburg last month. https://www.mql5.com/en/signals/120434#!tab=history
