Prayut’s Saudi trip a boon for Thai workers, export industry

He said improved bilateral relations will also offer more export opportunities, especially since Saudi Arabia is one of the largest economies in the Middle East.

According to the Thai Chamber of Commerce, Thai exports to Saudi Arabia in 2021 accounted for about 45 billion baht or just 0.6 per cent of the country’s total exports.

If the proportion of trade with Saudi Arabia can be pushed up to 2.2 per cent, like it was before relations soured over the 1989 “blue diamond affair”, then Thailand’s export revenue can rise by 150 billion baht.

Improved ties will also boost opportunities for Thai businesses in the automotive and auto parts sector, clean energy industry, food and agricultural products, machinery, electrical equipment, building materials and medical sector to name a few.

Apart from export opportunities, improved ties will also allow skilled and non-skilled workers to return to Saudi Arabia. Before 1989, there were more than 300,000 Thai workers in Saudi Arabia, who sent home up to 9 billion baht yearly.

The Foreign Ministry also expects more Saudis to travel to Thailand and generate at least 5 billion baht per year. Saudis have high spending power and are being targeted for the health and wellness sector.

Deputy government spokesperson Rachada Dhnadirek said the Southern Border Provinces Administrative Centre has set up guidelines on how people and businesses in the South can benefit from improved relations.

A seminar titled “Opportunities and Potentials of the Southern Border Provinces after Thailand-Saudi Ties have been Restored” will be held in mid-February to collect opinions and listen to suggestions from religious leaders, local leaders, civil servants, Thai workers heading for Saudi Arabia and more than 500 people who have worked in the Middle East.

Information gathered at the forum will be compiled to develop new policies for bilateral ties and

will also be presented at an Islamic conference scheduled for March.