Thailand and Saudi Arabia Strengthen Bilateral Cooperation Across Key Areas
Key Ideas
- Thai Foreign Minister emphasizes the significance of enhancing relations with Saudi Arabia beyond bilateral cooperation to include regional and international collaboration.
- Key areas of focus for cooperation between Thailand and Saudi Arabia include Food Security, Energy Security, and Human Security, aligned with Saudi Vision 2030 and Ignite Thailand policies.
- Renewable energy, including green hydrogen and Small Modular Reactors (SMRs), alongside collaboration in the automotive industry, particularly electric vehicles (EVs), are highlighted as potential areas for further cooperation.
- The Second "Thai-Saudi Investment Forum" serves as a continuation of efforts to deepen economic and investment cooperation following the full normalization of diplomatic relations in 2022, with promising prospects for trade and investment outcomes.
Thai Foreign Minister Maris Sangiampongsa emphasized the multifaceted nature of relations between Thailand and Saudi Arabia, extending beyond bilateral cooperation to include regional and international collaboration. The focus areas identified for cooperation between the two countries encompass Food Security, Energy Security, and Human Security, drawing on the expertise and complementarities of their economies. Sangiampongsa highlighted the compatibility of the Saudi Vision 2030 and Ignite Thailand policies in driving these collaborations. Additionally, the Minister identified renewable energy, such as green hydrogen and Small Modular Reactors (SMRs), as well as collaboration in the automotive industry, particularly electric vehicles (EVs), as key areas with further potential for cooperation. The Second "Thai-Saudi Investment Forum" marked a significant step in deepening economic and investment ties, following the normalization of diplomatic relations in 2022. The event saw the signing of multiple memorandums of understanding (MOUs) and brought together business representatives from both countries to explore trade and investment opportunities. Building on the success of previous initiatives, plans for the International Mega Fair 2024-Riyadh were announced, aiming to promote trade across various high-potential sectors. The article underscores the rapid development of relations between Thailand and Saudi Arabia, with a focus on enhancing economic cooperation and exploring untapped opportunities for mutual benefit.
Topics
Green Hydrogen
Economic Development
Investment Opportunities
Diplomatic Relations
Trade Agreements
Bilateral Cooperation
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