Thailand exported goods worth more than 43 billion baht to Saudi Arabia during the first eight months of this year, representing an increase of 15.9% year on year, according to Government Spokesman Anucha Burapachaisri.
The Thai exports include automobiles, car accessories and parts, wood and finished wood products, rubber products, canned and processed seafood, machinery and parts and animal feed.
In addition to increased exports, since Thailand and Saudi Arabia normalised their relations early this year, Anucha said that the Thai Commerce Ministry has reported progress in other areas as well.
Thailand and Saudi Arabia have concluded an agreement, under which Thailand will export goods, worth about 3.5 billion baht, to Saudi Arabia. There is also a plan to set up a Thai-Saudi Business Council and export clinic, to advise Thai businessmen about various trade regulations in Saudi Arabia.
The Thai Commerce Ministry is also holding talks on a Free Trade Area with the Gulf Cooperation Council and on the setting up of a joint trade committee between Thailand and Saudi Arabia.
Talks are also under way between the Thai Commerce Ministry, the Federation of Thai Industries and Saudi Arabia regarding the establishment of a Webinar, to promote trade and investment in key industries, such as petrochemicals, steel, food, agriculture and automobiles, said Anucha.
Source: Thai PBS World