Bangkok, January 17, 2025 – In a significant step toward enhancing bilateral relations, the Saudi-Thai Economic and Trade Committee convened its inaugural meeting today in the Thai capital, Bangkok. This gathering was attended by prominent figures, including Prince Faisal bin Farhan bin Abdullah, Minister of Foreign Affairs of the Kingdom of Saudi Arabia, and Maris Sangiampongsa, Minister of Foreign Affairs of Thailand.
The meeting, a vital part of the Saudi-Thai Coordination Council’s efforts to deepen economic ties, was presided over by Abdulaziz bin Omar Al-Sukran, Deputy Governor for International Relations at the General Authority for Foreign Trade (GAFT) of Saudi Arabia, and Vuttikrai Leewiraphan, Permanent Secretary of the Thai Ministry of Commerce.
The committee’s primary objective is to forge stronger economic and trade relations between the Kingdom of Saudi Arabia and the Kingdom of Thailand. It will focus on several key areas, including the exchange of expertise, fostering cooperation across economic and developmental fields, and promoting collaboration in vital sectors such as food, health, and halal products. Additionally, the committee aims to drive advancements in industrial development, ensure active involvement of both nations' private sectors in trade fairs and conferences, and address the various trade challenges and barriers that may hinder growth in bilateral commerce.
A notable highlight from the meeting was the discussion surrounding trade volumes, which reached over $6 billion by the third quarter of 2024. Saudi Arabia’s exports to Thailand were primarily focused on mineral products and fertilizers, while Thailand’s major exports to Saudi Arabia included automobiles and their parts, as well as machinery, mechanical tools, and their components. These figures underscore the growing commercial interdependence between the two nations, setting the stage for further expansion.
As the committee looks ahead, both Saudi Arabia and Thailand are committed to creating an environment conducive to mutual prosperity. With strong leadership and a clear vision for collaboration, the committee aims to unlock new avenues for trade, investment, and technological exchange, ultimately strengthening the strategic partnership between the two nations.
