Thai-Saudi diplomatic, trade, and investment relations have been growing rapidly in recent months. To add momentum to this growth, the Thai-Saudi Investment Forum was organized in Bangkok.
Minister of Foreign Affairs Don Pramudwinai and Saudi Minister of Investment Khalid Al-Falih presided over the opening of the investment forum. Investment strategies, private sector trade, investment promotion, and incentives in support of Thai-Saudi investment were presented. A stage was also provided for businesspersons from Thailand and Saudi Arabia to conduct negotiations on joint investments.
A total of 8 trade and investment agreements were signed at the event. These pertain to the food processing, construction, and food and beverage businesses. About 500 pairs of Thai and Saudi businesses were matched. Some 30 billion baht of new trade value is expected to be created as a result. Bilateral investment is expected to double to 10 billion baht within the next year because of developments at the forum.
The forum is considered an illustration of Thailand’s readiness to host the APEC Leaders’ Meeting later this month. Thailand is also set to soon welcome Prince Mohammed bin Salman Al Saud, the crown prince and prime minister of Saudi Arabia, on an official visit. The trip is expected to further bolster Thai-Saudi relations. (NNT)