(CTN News) – Saudi Arabian delegations from the public and private sectors will visit Thailand from July 4-7 to discuss trade and investment between the two countries, Board of Trade of Thailand Chairman Sanan Angubolkul said on Thursday.
Building mutual confidence in trade and investment is a good opportunity. Saudi Arabia’s a trade and investment have the potential to flourish in Thailand, Sanan said.
According to him, the Board of Trade is confident that Thailand will serve as Asean’s hub after recent roadshows.
An executive was referring to the visits by Thai delegations from the Board of Investment, the Eastern Economic Corridor, and the private sector to Saudi Arabia.
From May 15-18, Sanan led a business delegation to Saudi Arabia for the first time in 32 years, in order to build trade and investment.
Saudi Arabians are interested in learning Thai business management and tourism
Earlier this year, Thailand and Saudi Arabia normalized diplomatic relations when Prime Minister Prayut Chan-o-cha paid an official visit to the Gulf nation and met with Crown Prince Mohammed bin Salman Al Saud.
Trade between the two countries is expected to reach tens of billions of baht this year, Sanan said on Thursday.
He spoke after attending a meeting of representatives from 38 companies who attended the recent trip to Saudi Arabia. In addition to discussing business matching, the meeting discussed the progress of negotiations with the Saudi counterparts.
Saudi Arabians, according to Sanan, are most interested in tourism and wellness and want to learn about Thai business management.
According to Sanan, the Thai delegation offered Saudi Arabian firms more Thai-made food products than their usual imports during last week’s roadshow.
Nevertheless, he said, the Thai government should ask Saudi Arabia to relax its import restrictions on certain food products.
“Besides human food, Saudi Arabia is also interested in animal food, since they have a lot of cats,” Sanan said.
Thai labor is also in demand in Saudi Arabia, where hospitals, doctors, nurses, construction workers, and automotive workers are needed.