Following the resumption of diplomatic relations in 2022 after a lapse of over 30 years, the potential is enormous with the prospective deals in the pipeline worth billions of dollars. Among the numerous verticals being considered, bio-hydrogen, farming and healthcare are particularly important. Healthcare, in particular, includes the burgeoning sectors of medical tourism and wellness. Thailand is seeking Saudi Arabia's input for a US$2 billion fund aimed at supporting agricultural innovation, particularly in the areas of plant-based foods, herbal vitamins, and fruit farming. Cooperation in this sector can significantly contribute to enhancing food security, a matter of paramount importance to policymakers in Saudi Arabia and other GCC countries. Both countries have distinct social and business cultures. However, the Saudi-Thai Business Council, established last August, has already facilitated the signing of two free trade agreements in late 2023. Saudi Arabia plans to invest US$8.5 billion in Thailand this year, focusing on the Eastern Economic Corridor, the country’s industrial centre. Many more announcements concerning other significant developments should be expected in 2024 and beyond. Read the article here: