Saudi Arabia, Thailand to set up business council, facilitate trade

31 Aug '22

1 min read

Pic: Shutterstock

At the Saudi-Thai Business Forum organised recently by the Council of Saudi Chambers of Commerce and Industry in Riyadh, Thailand and Saudi Arabia signed agreements to set up a Saudi-Thai Business Council and facilitate bilateral trade. Council president Ajlan al Ajlan said both governments are keen to exploit the economic potential and promising investment opportunities.

The Saudi Vision 2030 and its initiatives are key to facilitating economic cooperation between the two sides, he said.

"We are interested in the Kingdom being the main supplier of energy to Thailand, and for our part, we can become a major source of the Kingdom’s food security," Thai deputy prime minister and minister of trade Jurin Laksanawisitt said.

Laksanawisitt said Saudi Arabia could be a major energy supplier to Thailand, and the latter could be a primary source of the former’s food security. He urged Saudi businesses to invest in various sectors in Thailand, take advantage of the opportunities and the conducive environment for foreign investors, an official news agency reported.

Senior officials and more than 300 business leaders from the two countries attended the forum.

Fibre2Fashion News Desk (DS)