RIYADH, SAUDI ARABIA – The Federation of Saudi Chambers announced Monday the establishment of a joint Saudi-Thai Business Council.
The announcement came during the activities of the Saudi-Thai Business Forum, which was organized by the Federation of Saudi Chambers, with the participation of over 350 senior officials and business leaders from the Kingdom of Saudi Arabia and Thailand.
Deputy Prime Minister and Minister of Commerce of the Kingdom of Thailand Jurin Laksanawisit, who is visiting the Kingdom of Saudi Arabia to discuss prospects for economic cooperation between the two friendly countries, was present on the occasion.
Thailand’s Deputy Prime Minister said that discussions with Saudi officials resulted in signing of three pacts in the free trade field, facilitation of commercial procedures and the establishment of a joint Saudi-Thai business council.
He said these contributed to advancing the economic relations between the two countries.
He also praised the Kingdom’s Vision 2030 and expressed the aspiration of the Thai government and its business sector to actively participate in the projects and investment opportunities presented by Saudi Arabia.
Laksanawisit said that Saudi Arabia could be a major energy supplier to Thailand, and Bangkok could be a primary source of Riyadh’s food security.
The Minister of Commerce called on Saudi business owners to invest in various economic sectors, take advantage of the opportunities and investment environment that Thailand provides.
The Saudi-Thai Business Forum witnessed bilateral meetings between representatives of the Saudi and Thai companies to discuss cooperation partnerships and stimulate private sector investments between the two countries.
The forum also witnessed signing of five agreements between Saudi and Thai entities and companies.