The President of the Federation of Saudi Chambers, Ajlan Al-Ajlan, stressed, during a speech he delivered at the opening of the work of the "Saudi-Thai Business Council", which was held at the headquarters of the Federation of Saudi Chambers in Riyadh, on the "importance of making a qualitative shift in trade and investment relations between the Kingdom and Thailand, in light of the clear keenness of the governments of the two countries to exploit the great economic potential and promising investment opportunities."
He explained that “The government support enjoyed by the Saudi-Thai economic relations contributed to raising the volume of trade exchange by 29% in 2021, compared to 2020. While the total volume of trade exchange between the two countries amounted to 131 billion riyals (34.9 billion dollars) during the past 5 years.” He called for "Working to provide an appropriate investment and commercial climate, including activating the agreements signed between the two countries to bring the relations to the stage of the strategic economic partnership."
For his part, the Thai Deputy Prime Minister, Gorin Lakkasana West, expressed the aspiration of the Thai government and the business sector to actively participate in the projects and investment opportunities offered by the Kingdom within Vision 2030, pointing out that "the Kingdom can be a major supplier of energy to Thailand, while Thailand can be a major source of the Kingdom's food security."
The Saudi Minister of Commerce, Dr. Majid Al-Qasabi, affirmed that "the Saudi-Thai relations are witnessing today an unprecedented movement and great achievements on the ground. It is expected that by the end of this year, the volume of intra-regional trade will increase by nearly 30 percent to exceed $9 billion."
Source (Al-Sharq Al-Awsat Newspaper, Edited)
