The Kingdom of Saudi Arabia, represented by the General Authority of Foreign Trade, has signed a Memorandum of Understanding with the Thai Ministry of Commerce regarding the development of trade relations. The signing took place on Thursday, May 9, 2024, in the Thai capital, Bangkok, during the visit of His Excellency the Minister of Commerce, Chairman of the Board, Dr. Majid bin Abdullah AlKassabi, to the Kingdom of Thailand, accompanied by a delegation from the government sector and major Saudi companies from May 8-10, 2024.
The memorandum aims to enhance cooperation between the two parties based on mutual benefit in the field of trade, eliminating any obstacles and challenges that may arise, and taking all appropriate measures.
The memorandum also aims to collaborate in exchanging expertise and information in various business fields, export opportunities, market research, promoting joint activities, and other areas of mutual interest agreed upon by both parties. It includes participating in organizing trade exhibitions, events, and other promotional activities held in both countries to promote goods and services, explore business opportunities, and exchange trade opportunities and advice regarding publications and relevant areas. This also encompasses digital platforms that showcase trade opportunities, policies, and legislation available to the public, to enhance and diversify bilateral trade.
Minister AlKassabi emphasized that the signing of the memorandum of understanding comes in line with the wise directives - may Allah support them - to enhance cooperation and elevate relations with all countries worldwide on all levels. He pointed out that the Kingdom of Thailand possesses valuable capabilities in various fields, and the Kingdom seeks to collaborate to enhance these capabilities.
It is noteworthy that the Saudi Authority of Foreign Trade is working to maximize the Kingdom's international trade gains, enable Saudi exports to access foreign markets, attract investments, and defend its interests in the field of foreign trade, contributing to the development of its national economy.