Thai businesses can expect expanded opportunities in Saudi Arabia, following the restoration of diplomatic relations between both countries.
According to the Thai Chamber of Commerce (TCC), a group of officials and delegates representing private firms are visiting Saudi Arabia from May 15-18, to further enhance the commercial affairs of the two countries.
The visit is being led by Deputy Prime Minister and Foreign Affairs Minister Don Pramudwinai. It is the first official visit by Thai officials and private representatives in 32 years.
TCC Chairman Sanan Angubolkul said delegates from 38 firms have joined the group, visiting the Saudi cities of Riyadh, Al-Ula and Jeddah and attending the Saudi-Thai Investment Forum on May 16, co-hosted by Thailand’s Ministry of Foreign Affairs and Saudi Arabia’s Ministry of Investment.
The visit aims to boost the value of Thai exports to Saudi Arabia to 150 billion baht, in line with Saudi Arabia’s Vision 2030 to see 65% of its national gross national product (GDP) generated by the private sector, and to increase the ratio of non-petroleum exports to 50% of GDP.(NNT)
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