The Federation of Thai Industries and the Ministry of Commerce got together today to talk about a variety of topics that will help propel the Thai economy. The importance of trade and investment between Thailand and Saudi Arabia was discussed.
In this meeting between the Federation of Thai Industries and the Ministry of Commerce, Deputy Prime Minister and Commerce Minister Jurin Laksanawisit presided over a group of executives from throughout the ministry (FTI). Trade worth 10 billion baht annually was discussed at the conference as was methods to increase collaboration with Saudi Arabia.
First, the Thai government will launch a “Export Clinic” to provide assistance to Thai business owners interested in selling to Saudi Arabia. Following the inaugural event’s 3.5-billion-baht transaction value, the “Top Thai Brand” exposition and business matching activities will continue. For the third part, the “Webinar Investment and Business Opportunities in Saudi Arabia” will be held often for Thai investors and businesspeople. Finally, Thailand will encourage the expansion of sectors specifically recommended by the Saudi Arabian Ministry of Investment, including the manufacture of food and drink products, automobile components, building materials, petroleum products, and basic chemicals. Additionally, Thailand will establish a free trade agreement with the GCC (GCC).
Kriengkrai Thiennukul, chairman of Thailand’s Federation of Industries, has remarked that Saudi Arabia has great potential under the country’s 2030 Vision and would serve as a gateway to other nations in the region. He said that this is a great chance for Thai businesspeople and investors.
