The Economic and Trade Committee of the Saudi-Thai Coordination Council convened its first meeting today, Thursday, January 16, 2025, in Bangkok, Thailand. The meeting was co-chaired by H.E. Abdulaziz O. Al-Sakran, Deputy Governor for International Relations at the General Authority for Foreign Trade, and H.E. Vuttikrai Leewiraphan, Permanent Secretary of Commerce. The event was honored by the presence of H.H. Prince Faisal bin Farhan Al Saud, Minister of Foreign Affairs of Saudi Arabia, H.E. Mr. Marise Sangiamphongsa, Minister of Foreign Affairs of Thailand, and a number of distinguished officials.
The committee aims to bolster bilateral trade relations between the Kingdom of Saudi Arabia and the Kingdom of Thailand by fostering collaboration and exchanging expertise across key areas, including economic and developmental sectors, food and health products, halal industries, and industrial development. It also seeks to involve the private sector in trade exhibitions and conferences while addressing and resolving trade barriers and challenges faced by both nations.
H.E. Abdulaziz O. Al-Sakran emphasized that this inaugural meeting reflects the shared commitment of both sides to achieving their mutual goals and enhancing economic ties between the two countries. He highlighted the committee’s accomplishments over the past two years, including more than 10 major milestones that have significantly advanced trade relations. He also reaffirmed the dedication to maintaining the momentum in implementing a range of initiatives across economic, trade, and industrial domains.
The Saudi-Thai Coordination Council focuses on strengthening bilateral cooperation across various fields, including political, security, economic, defense, cultural, tourism, and investment sectors. The council operates through five committees: the Political and Consular Committee, the Security and Defense Committee, the Cultural and Tourism Committee, the Economic and Trade Committee, and the Investment Committee, all working to enhance bilateral relations and achieve strategic objectives.
As of Q3 2024, trade between Saudi Arabia and Thailand exceeded $6 billion. Saudi Arabia’s key exports to Thailand included mineral products and fertilizers, while Thailand’s primary exports to Saudi Arabia comprised vehicles and their parts, machinery, and mechanical appliances.