InfoQuest (May 16, 2022) - Mr. Sanan Angubolkul, Chairman of the Thai Chamber of Commerce and Board of Trade of Thailand, announced that Deputy Prime Minister and Foreign Minister Don Pramudwinai andhis delegation will visit Saudi Arab from May 15 to 18 this year.
This will be the first official visit of the Thai delegation to Saudi Arabia in 32 years, marking the restoration of bilateral relations. This historic visit will bring trade, tourism and investment opportunities to Thailand, as well as open up new trade markets, benefiting Thailand. It is reported that Thai Prime Minister paid an official visit to Saudi Arabia at the invitation of the Crown Prince of Saudi Arabia on January 25 this year.
The delegation will be composed of senior officials from 38 promising enterprises in consumer goods, infrastructure, agriculture and food, energy and chemicals, real estate, building materials, automotive, aviation, digital technology, jewelry and accessories, tourism and services, health and other sectors.
During this visit, the Thai Ministry of Foreign Affairs and the Ministry of Investment of Saudi Arabia (MISA) will hold Saudi-Thailand Investment Forum on May 16 to facilitate bilateral business cooperation and investment. At that time, the Thai Chamber of Commerce will sign an MOU with the Saudi Arabian Chamber of Commerce for cooperation opportunities.
Last year, Thailand exported about US $1.5bn to Saudi Arabia, just 0.6 percent of the total Thai exports. This trip is expected to increase the export share to 2.2 percent, the 1989 level, equivalent to a US$5bn increase in trade.
In the future, the Thai Chamber of Commerce will continue to lead SMEs in seeking trade and investment opportunities.
Source: InfoQuest, by Papatson Ongphichetmetha/Kasamarporn Kittisamphan, translated by Xinhua Silk Road
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