Thailand’s Prime Minister Srettha Thavisin completed his official visit to Kingdom of Saudi Arabia on October 21. He has aimed to further strengthen economic ties between the two countries after Saudi Arabia restores diplomatic relations with Thailand in 2022.
According to Ministry of Foreign Affairs, on October 20, the PM was granted an audience with His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister of the Kingdom of Saudi Arabia, during the ASEAN – Gulf Cooperation Council (GCC) Summit in Riyadh, Kingdom of Saudi Arabia.
He took this opportunity to express his profound gratitude for the vision of the Custodian of the Two Holy Mosques, His Majesty King Salman bin Abdulaziz Al Saud and His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister of the Kingdom of Saudi Arabia, who laid the foundations that led to the normalisation of diplomatic relations between the two kingdoms.
Both sides agreed that there are plenty of opportunities for Thailand and Saudi Arabia to work together to further enhance bilateral relations in all dimensions.
The two countries also discussed and determined ways and means to increase bilateral trade volume through the signing of memorandums of understanding and agreements that will help facilitate trade and investment, especially the free trade agreement within the framework of the Gulf Cooperation Council.
Moreover, Thailand and Saudi Arabia have agreed to jointly promote investment between the two Kingdoms. Saudi Arabia expressed its readiness to expand investment in various areas in Thailand through its Public Investment Fund (PIF).
The two sides also agreed to holding the first Saudi-Thai Coordination Council (STCC) in Thailand next year. The Council will be co-chaired by their Ministers of Foreign Affairs which will be an important forum to bring the decisions taken by both leaders into concrete results which will be beneficial to the people of the two Kingdoms in the future.
Prime Minister expressed his gratitude towards the Saudi government for the well being of over 6,000 Thai nationals residing in Saudi Arabia.
The two sides also discussed the situation in Israel, which has resulted in the loss of 30 Thais, 16 injuries, and the abduction of 19 innocent Thai nationals. The Saudi side confirmed their readiness to assist the Thai nationals.
After this meeting, Saudi Arabia Saudi Arabia allows the Royal Thai Air Force to fly through its airspace. This helped the flight to evacuate Thai workers from Israel on October 21 by shortening the distance and time from 13 to 8 hours.
On October 21 PM Srettha met CEOs of major Saudi private sector companies, including Sulaiman AlRumaih, CEO of Saudi Agricultural and Livestock Investment Company (SALIC), who is pleased to promote cooperation with Thailand in agriculture, livestock, and food, at Ritz Carlton Hotel in Riyadh.
The Thai Prime Minister then met with Yasir bin Othman Al-Rumayyan, Governor of the Public Investment Fund (PIF); Amin Hassan Ali Nasser, CEO of the Saudi Arabian Oil Company (Saudi ARAMCO); and Abdulrahman Al-Fageeh, CEO of the Saudi Arabia Basic Industries Corporation (SABIC).
Both the Thai government and the three Saudi private companies are willing to facilitate further trade and investment cooperation between them in services and tourism, clean energy, food and agriculture, petroleum, and fertilizer.
The Thai PM also discussed with the Saudi private sector opportunities and potential for cooperation in trade, investment, and energy, especially the production of clean energy.