UAE: SCCI, Thai Ambassador discuss ways to expand economic cooperation

Abu Dhabi [UAE], March 25 (ANI/WAM): The Sharjah Chamber of Commerce and Industry (SCCI) has engaged in high-level discussions with a Thai diplomatic delegation, exploring avenues for enhancing economic cooperation and boosting the trade exchange volume between the two countries.

Both sides also discussed the potential establishment of a Thai Business Council, under the auspices of the Sharjah Chamber, to stimulate joint investments and promote participation in events and exhibitions in both business communities.

Held at the SCCI's headquarters, the meeting was hosted in conjunction with a visit from a high-level Thai business delegation led by Sorayut Chasombat, Ambassador of the Kingdom of Thailand to the UAE.

The meeting was attended by Abdullah Sultan Al Owais, Chairman of SCCI, and Mohammed Ahmed Amin Al Awadi, Director-General of SCCI.

Abdul Aziz Al Shamsi, Assistant Director-General for Communication and Business Sector in SCCI, and Mai Bin Haddah Al Suwaidi, Head of Partnerships and International Cooperation at the Sharjah Chamber, were also present during the meeting.

During the gathering, the two sides discussed ways to reinforce partnerships, bolster trade ties, and strengthen cooperation and coordination between the Sharjah Chamber and the Thai Embassy in the UAE.

Discussions also delved into prospects for enhancing communication channels to facilitate joint events, reciprocal visits of business leaders, missions, and trade delegations from both sides to introduce the business communities in both Sharjah and Thailand to the advantages of investing in the two countries.

Furthermore, the meeting explored potential avenues of cooperation and the imperative of participation in trade exhibitions and events in both countries, particularly the Watch and Jewellery Middle East Show that is hosted by Expo Centre Sharjah, and the Bangkok Gems and Jewellery Fair.

During the meeting, the Thai delegation underlined their desire to facilitate the Emirati jewellery designers' participation in the Bangkok Fair, while extending an official invitation to the Sharjah Chamber to visit Thailand in September of the coming year.

Abdullah Sultan Al Owais reiterated the Sharjah Chamber's commitment to actively contributing to bolstering economic cooperation, leveraging the viable opportunities available to foster bilateral partnerships between the two countries' business communities.

He also emphasised the importance of private sector engagement in boosting investments.

Furthermore, Al Owais highlighted the imperative of exploring prospects of cooperation through joint forums and meetings that bring together businessmen from both sides to forge new partnerships and elevate trade volume, in line with the robust capabilities across various promising sectors in both the UAE and Thailand.

He also called for incentivising Thai businesses to visit Sharjah, indulge in its exemplary business ecosystem, and leverage its investment advantages and promising opportunities.

Thailand has solidified its position as a key trade and investment ally for the UAE, with non-oil bilateral trade sustaining growth momentum totaling USD 3.2 billion in the first half of 2023--a 3.7 per cent increase from the corresponding period in 2022.

Thailand is now the UAE's second-largest trading partner in the ASEAN Bloc, accounting for 20 per cent of its total non-oil foreign trade within the region, while the UAE is Thailand's leading trading partner in the Middle East.

Concluding their visit, the Thai delegation toured the SCCI's permanent exhibition, where they were drawn to the local industrial products on display. (ANI/WAM)