Saudi Arabia and Thailand agreed on Monday to strengthen economic ties and boost investment between both countries.
This came as Deputy Chairman of the Federation of Saudi Chambers Tariq al-Haidari discussed with Sathana Ayudhya, the Thai Chargé d'Affaires and head of the diplomatic mission at the Thai Embassy, opportunities for future cooperation, mainly in the tourism sector.
Talks tackled work to bolster public and private efforts to enhance bilateral relations and find a mechanism to increase economic and commercial cooperation.
They also discussed means of exploring investment fields and available opportunities under the Saudi Vision 2030, as well as development opportunities in Thailand, especially in the fields of green economy, renewable energy, environment, digital transformation, and cybersecurity.
Haidari underlined the private sector’s key role in developing ties with other countries, benefiting from investment opportunities, and overcoming obstacles hindering the implementation of joint commercial and industrial projects.
Notably, the volume of trade exchange between the Kingdom and Thailand over the past five years (2016-2020) amounted to SAR130 billion, while Saudi Arabia’s non-oil exports to Thailand exceeded SR2 billion in 2020.
Top exports included minerals, chemicals, and aluminum, while top imports included cars, machinery, and lumber and its products.
In February, Saudi Arabian Airlines (SAUDIA), the national flag carrier of Saudi Arabia, announced the launch of flights connecting two airports in the Kingdom to Thailand.
