Saudi‑Thai Business Council and Thai SME Federation Sign Strategic MoU to Strengthen Bilateral Trade and Investment Cooperation

Saudi‑Thai Business Council and Thai SME Federation Sign Strategic MoU to Strengthen Bilateral Trade and Investment Cooperation

Today, the Saudi‑Thai Business Council, a key platform under the Federation of Saudi Chambers of Commerce, and the Thai SME Federation signed a landmark Memorandum of Understanding (MoU) in Bangkok, Kingdom of Thailand. This strategic cooperation marks a new chapter in economic collaboration between the Kingdom of Saudi Arabia and the Kingdom of Thailand, highlighting mutual commitment to empowering small and medium enterprises (SMEs) and fostering sustainable trade and investment growth.

The signing ceremony was attended by senior representatives from both sides, including the President and Vice‑President of the Thai SME Federation, members of its executive team, and senior delegates from the Saudi‑Thai Business Council.

Osama Kokandy, Chairman of the Saudi‑Thai Business Council, commented: “It is with great pride and optimism that we sign this strategic MoU with the Thai SME Federation today. This moment represents not just a formal agreement, but the beginning of a long‑term partnership grounded in respect, shared goals, and mutual ambition to enhance economic ties between our two kingdoms.

He continued: “Thailand holds a uniquely important place in our bilateral relationship. Thai businesses are known for their exceptional standards of quality, strong work ethics, and flexibility — attributes that make them ideal partners in global trade. It is our great pleasure to work closely with Thai entities to unlock new opportunities for entrepreneurs on both sides.”

The Saudi‑Thai Business Council represents the business interests of the Federation of Saudi Chambers of Commerce, which comprises more than 750,000 companies across small, medium, and large enterprises. The Council has been instrumental in creating platforms that empower business communities, facilitate market entry, and drive cross‑border collaborations.

The strategic cooperation established through this MoU will deliver a range of tangible benefits for members of both parties, including but not limited to:

- Enhanced market access: Providing Thai SMEs with direct access to the vast Saudi market and Saudi companies with opportunities in Thailand.

- Business matching and networking: Facilitating high‑level B2B engagements, trade missions, and matchmaking events between Thai and Saudi enterprises.

- Regulatory and operational support: Helping members navigate legal, regulatory, and procedural requirements in both countries.

- Knowledge and capability building: Promoting joint training programs, workshops, and exchange of best practices for SMEs to scale sustainably.

- Strategic investment opportunities: Encouraging collaboration in priority sectors including food and beverages, health and wellness, logistics, manufacturing, digital services, and tourism.

Mr. Kokandy added: “Our vision is aligned with Saudi Arabia’s Vision 2030 and Thailand’s economic priorities. By bringing our business communities closer, we deepen not only commercial relations but also cultural understanding and shared prosperity.”

Both parties expressed their strong commitment to implementing the framework of cooperation and to engaging their extensive networks to achieve meaningful impact in the short and long term.

The signing of this MoU reinforces the role of the Saudi‑Thai Business Council and the Thai SME Federation as catalysts for economic connectivity, supporting SMEs as engines of innovation and job creation across both economies.