Thailand and Saudi Arabia plan to enhance their economic and trade ties through trade fairs, the development of new industries, and collaboration in sectors such as halal products, pharmaceuticals, herbs, and elderly care.
Vuttikrai Leewiraphan, commerce permanent secretary, presided over an online meeting of the Saudi-Thai Coordination Council on Sept 18, aimed at strengthening economic and trade cooperation between the two countries.
He said last Thursday’s meeting set up a working plan for 2025-2026 and agreed to enhance economic and trade ties in various areas including the organisation of trade fairs and trade promotion activities, and the sharing of experiences and strategic planning for country development. The plan also includes collaborating on emerging industrial development such as robotics, new vehicles and artificial intelligence as well as cooperation in food, pharmaceuticals and herbal sectors, while sharing experiences on policy planning for elderly care.
Mr Vuttikrai added that the meeting also agreed to establish an agreement on the elimination of double taxation and a memorandum of understanding for customs cooperation to streamline trade and investment for businesses from the two countries.
Recognised as a high-income country, Saudi Arabia is Thailand’s strategic trade partner with high purchasing power. The country has a strong demand for halal and agricultural product imports.
