1st UAE-Thai joint business council launched to enhance cooperation

By Arya M Nair, Official Reporter
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UAE Thailand Business Council
UAE & Thailand officials launching joint business council

UAE-Thai business forum, organized by the Federation of UAE Chambers of Commerce and Industry (FCCI), has launched the first Emirati-Thai Business Council.

The forum, hosted by the Sharjah Chamber of Commerce and Industry (SCCI), discussed ways to boost economic relations between the two countries. The meeting was in conjunction with a visit from a Thai business delegation led by Mr. Jurin Laksanawisit, Deputy Prime Minister and Minister of Commerce.

The event witnessed the launch of the first joint business council between the UAE and Thailand, established under a Memorandum of Understanding (MoU) signed between the UAE’s FCCI and Thailand’s Joint Standing Committee on Commerce, Industry and Banking (JSCCIB).

The council comprises business leaders and representatives from the private sector of both countries. It serves as their representative body, conveying their aspirations and goals. It aims to enhance cooperation and increase trade and investment exchange between the UAE and Thailand.

Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, affirmed that the launch of the first joint business council between the UAE and Thailand reflects both countries’ commitment to expanding economic and trade cooperation and creating opportunities for Emirati and Thai businesses to establish sustainable partnerships that support their development goals.

Mr. Al Zeyoudi noted that the UAE and Thailand share strong, continuously developing economic relations in various vital sectors, as they have helped boost both countries’ trade and joint investment. In 2022, the UAE was Thailand’s largest trading partner in the Arab world and ranked 13th globally. Non-oil trade between the two countries reached $6.1 billion, a 21 percent increase from 2021.

The minister emphasized that the country is actively pursuing investment and talent attraction through integrated strategies, encouraging the Thai business community to take advantage of the opportunities and advantages being provided by the UAE’s business and investment environment.

For his part, Laksanawisit underscored that the forum marks a step forward in enhancing economic ties between Thailand and the UAE, and is an effective and practical way to establish joint investment projects.

Meanwhile, Mr. Waleed Bukhatir, Second Vice Chairman of the Board of Directors, SCCI, reaffirmed that the UAE private sector is a leading player in the Middle East and North Africa region, contributing to strengthening bilateral relations with other countries.

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