After more than three decades of strained relations, Thai Prime Minister Gen. Prayut Chan-o-cha and Saudi Crown Prince and Prime Minister Mohammed bin Salman met in Bangkok on November 18 and signed accords to strengthen diplomatic ties.
Five agreements were signed under the watchful eyes of the two heads of state, with the goals of expanding commerce and investment, boosting tourism, and bolstering energy cooperation.
While in Bangkok for the annual APEC Economic Leaders’ Meeting, Gen. Prayut met privately with the crown prince. The Kingdom of Saudi Arabia attended the APEC meeting as a guest of the host nation.
The Deputy Government Spokesperson Ratchada Thanadirek remarked, “Cooperation in commerce, investment, and labor is already ongoing” before the meetings.
At the request of the Saudi crown prince, the Thai prime minister visited Saudi Arabia in January, and full diplomatic relations were subsequently restored.
Prince Mohammed bin Salman, the heir apparent, has stated, “The restoration of links offers reciprocal advantages for both nations,” citing investment, infrastructure, and public health as three key areas of mutual benefit.
Thailand is an excellent partner for Saudi Arabia because of the kingdom’s efforts to diversify its economy away from oil and towards areas like food and agriculture, according to Ben Kiatkwankul, a partner at government affairs consultant Maverick Consulting Group. Moreover, he mentioned that energy projects and medical tourism may be advantageous for Thailand.
State-owned energy companies Saudi Aramco and PTT of Thailand have been working together on carbon capture and crude oil procurement since January as part of bilateral interactions between the two nations. The LIV Golf Invitational, a tournament on the Saudi-backed circuit, was held in Thailand in October.
Khalid al-Falih, minister of Saudi Arabia’s investment sector, visited a business summit in Bangkok in November, where he met with representatives from agribusinesses like CP Foods.
