Saudi deal to inject ‘billions’ into Thai economy

Thailand is to welcome a delegation from oil-rich Saudi Arabia in July which could potentially inject “billions” into the nation’s economy.

Board of Trade of Thailand Chairman Sanan Angubolkul yesterday revealed delegations from both the private and public sector of Saudi Arabia are scheduled to visit the kingdom from July 4-7 to discuss trade and investment between the two countries.

“This is a good opportunity to build mutual confidence in trade and investment. Thailand has the potential to become a hub in ASEAN for Saudi Arabian trade and investment. The Board of Trade is confident that Thailand is well prepared to serve as ASEAN’s hub after recent roadshows.”

In January, Thailand and Saudi Arabia agreed to renew diplomatic relations after three decades when Thai PM Prayut Chan-o-cha paid an official visit to the Arabic nation and met with Crown Prince Mohammad bin…