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Thailand and Saudi Arabia Commit to Enhancing Trade Relations

Thailand and Saudi Arabia Commit to Enhancing Trade Relations

Thailand and Saudi Arabia have committed to enhancing trade cooperation, aiming to generate over US$3.5 billion (121 billion baht) through sectors such as the green economy, agriculture, and services.

During the inaugural meeting of the Saudi–Thai Coordination Council (STCC) on Thursday, Minister of Foreign Affairs Maris Sangiampongsa, who co-chaired the session with Saudi Foreign Minister Prince Faisal bin Farhan Al Saud, emphasized the council’s role in fostering bilateral collaboration in areas including politics, consular matters, security, military cooperation, economics, trade, investment, culture, and tourism.

The STCC was established following discussions between former Prime Minister Srettha Thavisin and Saudi Prime Minister Prince Mohammed bin Salman at the 2023 Asean–Gulf Cooperation Council (GCC) Summit. This meeting is part of ongoing efforts to strengthen bilateral ties after the restoration of diplomatic relations in 2022.

Over 70 cooperation projects spanning at least 70 sectors were addressed during the meeting, organized into five committees. This partnership is expected to stimulate trade and investment, with anticipated trade value reaching $3.5 billion across services, green economy initiatives, and agriculture.

The Central Islamic Committee of Thailand has sanctioned the issuance of Halal certificates for chicken exports to Saudi Arabia, a significant market valued at more than 40 million baht annually. Additionally, plans are in place to collaboratively promote the establishment of special economic zones between the two nations to enhance trade and commercial activities, according to Mr. Maris.

He reiterated Thailand’s dedication to close cooperation aimed at achieving concrete progress and results, further solidifying the relationship between the two countries. “This meeting has strengthened the diplomatic ties between Thailand and Saudi Arabia and laid the groundwork for future collaborations,” remarked Mr. Maris.

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