Bangkok, 19 November 2022 (TDI): Thailand hopes to serve as the “gateway” for Saudi Arabia into Asian economies.

Following Crown Prince Mohammed bin Salman’s visit to Bangkok as a special guest of the Thai government, a top trade talks official declared on Friday. During the talks, Thailand expressed willingness to be Saudi Arabia’s “gateway” to Asian economies.

The Saudi leader’s one-day visit to Thailand marks an important turning point in Riyadh-Bangkok relations. The relationship between the two states deteriorated in the 1980s.

The continuation of diplomatic relations resumed when Thai Prime Minister Prayuth Chan-ocha was invited to Saudi Arabia in January this year, by the crown prince of Saudi Arabia.

Since then, a lot of agreements and formal interactions between the two sides have taken place.

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Trade between the two nations has greatly risen, and more growth is planned as Thailand has long prioritized recovering access to Saudi Arabia.

At the Asia-Pacific Economic Cooperation (APEC) summit in Bangkok, Auramon Supthaweethum, director general of the Department of Commerce Negotiations, stated that the value of trade has increased by at least 50% since the restoration of the diplomatic ties in January.

Thailand’s trade negotiations with Saudi Arabia are organized by the trade department under the ministry of commerce. The Thai government also hopes they will permit a bigger presence in the Middle East.

Supthaweethum said that Saudi Arabia could serve as Thailand’s entry point into the whole Middle East and that Thailand could do the same within the parameters of the Association of Southeast Asian Nations (ASEAN).

The crown prince’s visit coincided with the APEC conference and he met with the chiefs of state from the 21 economies of the Pacific Rim has further raised expectations for the recently repaired relations of the Middle Eastern and ASEAN countries.

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Supthaweethum thinks at a crucial moment, the Saudi crown prince and prime minister are in Thailand.

He claimed that since the Saudi delegation included many business representatives, there was also a chance for Thai-Saudi private-sector involvement.

He further believed that with diplomatic relations touching new heights, Thai investors and exporters have easier access to prospects in the Gulf and beyond.

 

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