- Saudi Crown Prince Mohammed bin Salman and Thailand’s Prime Minister Prayuth Chan-ocha deepened diplomatic relations by signing five agreements promising to accelerate trade, advance tourism and partnering in energy investments at the Asia-Pacific Economic Cooperation (APEC) summit in Bangkok.
- Thailand’s improving relations with Saudi Arabia could give the country an economic boost. In January, Thai Prime Minister Prayuth Chan-ocha visited Saudi Arabia at the invitation of the Crown Prince after many years of downgrading diplomatic relations.
- The two countries have strengthened their ties since January with the signing of an agreement between the state-owned energy companies Saudi Aramco and Thailand’s PTT for co-operation in carbon capture and crude oil sourcing.
Why it matters
This partnership will benefit both countries: Saudi Arabia aims to diversify its oil-based economy and agriculture, and Thailand can benefit from energy-based projects and medical tourism.