The Thai business sector has hailed the agreement with Saudi Arabia to restore full diplomatic relations for the first time in more than three decades, believing it can bolster trade, investment and tourism between the two countries.
Sanan Angubolkul, chairman of the Thai Chamber of Commerce, expects exports to Saudi Arabia to grow to 2.2% of the total value, up from a marginal 0.6% of total exports or US$1.5 million last year, once Thailand resumes trade with Saudi Arabia.
"Prime Minister Prayut Chan-o-cha's visit to Saudi Arabia is considered a major event the private sector is closely watching. The visit may herald a breakthrough in revitalising the country's economy and trade," said Mr Sanan.
