April 4, 2023
BANGKOK – Thailand Mega Fair and Festival 2023 is expected to draw 12,000 visitors in Saudi Arabia in December.
The trade showcase is designed to promote Thailand’s culture, tap into potential Saudi and Middle East markets for Thai goods, and offer a platform for business matching.
“When I went to Saudi Arabia for the first time last year, I believed there were business opportunities everywhere,” said Kriengkrai Kanchanapokin, CEO of Index Creative Village, at Monday’s press conference held jointly with the Thai Chamber of Commerce (TCC).
“This exhibition will gather businesses and investors from various industries, such as food & beverage, tourism and services, health and medical care, agricultural technology, energy, robotic and automatic systems, construction and interior materials,” he said.
Saudi Arabia offers a rich market of 36 million people with average GDP per capita of US$27,941. Thailand is rebuilding trade links with the kingdom after restoring full diplomatic relations last year following a three-decade freeze.
The Saudi population’s high buying power and ongoing economic potential are both results of the kingdom’s diverse manufacturing expansion, explained Kriengkrai.
“The beginning of last year is recognised for ushering in a new era of normalised relations between Thailand and Saudi Arabia, enhancing economic, trade, investment, tourism, and other cooperation,” said TCC chairman Sanan Angubolkul.
He noted that Bangkok and Riyadh had signed a memo of understanding to increase the number of passenger flights between the countries to 42 per week.
This is one of several agreements forged after Thailand and Saudi Arabia resumed bilateral ties following a 33-year suspension.
Thai tourism is already benefiting from the thaw.
“Saudis are genuine and spend nearly twice as much as other visitors in Thailand,” Sanan said.
He expects 200,000 Saudi tourists to visit Thailand this year.
“This exhibition will be an important milestone to expand trade and investment between Thailand and Saudi Arabia, to make Thailand more well-known, and also to promote Thai soft power,” he added.
Darm Boontham, Saudi Arabia’s ambassador to Thailand, explained that Saudis appreciate Thai culture and service standards.
“In addition to commerce, they admire our pluralistic society and the way we coexist peacefully with people of different ethnicities and faiths,” he said.
“There are many more intriguing locations and possibilities, Riyadh is only the beginning. I believe that this exhibition will be a success,” he added.
The Saudi capital will host the four-day Thailand Mega Fair and Festival 2023 at the Arena Riyadh beginning on December 13.