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Saudi-Thai Forum Seeks to Accelerate Investment Pace

Saudi-Thai Forum Seeks to Accelerate Investment Pace

Thursday, 7 July, 2022 - 10:30
The Saudi-Thai Business Forum kicked off on Wednesday in Bangkok. (Asharq Al-Awsat)

In conjunction with the launch of the Saudi-Thai Business Forum on Wednesday in Bangkok, businessmen in the two countries underlined the need to accelerate the pace of investment relations and increase trade exchange.

The Chamber organized the event in the presence of Deputy Prime Minister and Minister of Foreign Affairs. Mr. Don Pramudwinai to discuss means of developing bilateral trade and investment relationship and enrich trade exchange.

Member of the Board of Directors and Chairman of the Commercial Committee Karim Al-Enezi stressed the Chamber’s keenness for the forum's outcome to enhance and support the Saudi-Thai investment relationship and increase trade exchange between the two countries.

For his part, Jurin Laksanawisit, Minister of Commerce of Thailand, said that the Saudi Business Forum was a strong start to support the growth of trade between the two countries and achieve the desired goal.

On Saturday, a delegation from the Chamber of Commerce in Riyadh, comprising about 100 businessmen, left for Thailand on a five-day working visit aimed at revitalizing joint trade, economic and investment cooperation between the Saudi and Thai business sectors.

Ajlan Al-Ajlan, Chairman of the Board of Directors of the Chamber of Commerce and Industry in Riyadh, said that Saudi Arabia was witnessing unprecedented economic and development growth through Vision 2030, under the directives of the Custodian of the Two Holy Mosques and the Crown Prince.

He pointed to wide opportunities for partnership with Thailand in many commercial, industrial, technical, service, tourism and agricultural fields.

The value of Saudi exports to Thailand last year amounted to $3.8 billion, compared to about $3.2 billion in 2020, while Thailand’s imports to Saudi Arabia in 2021 reached about $1.9 billion, compared to $2.3 billion in the previous year.

The Kingdom’s exports to Thailand in 2020 included metal products, organic chemicals, fertilizers, aluminum and plastics, while Saudi imports from Thailand included cars and auto parts, machinery, wood charcoal, fish preparations, appliances and electrical equipment.

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