Sharjah Chamber And Thai Ambassador Explore Economic Cooperation Expansion

The Sharjah Chamber of Commerce and Industry (SCCI) recently held a pivotal meeting with a Thai diplomatic delegation to discuss ways of enhancing economic cooperation and increasing the trade exchange volume between the UAE and Thailand. The discussions also covered the potential establishment of a Thai Business Council under the SCCI's guidance, aiming to boost joint investments and encourage participation in various events and exhibitions in both countries.

The meeting, which took place at the SCCI’s headquarters, saw the presence of Sorayut Chasombat, Ambassador of the Kingdom of Thailand to the UAE, leading the Thai business delegation. Abdullah Sultan Al Owais, Chairman of SCCI, and Mohammed Ahmed Amin Al Awadi, Director-General of SCCI, hosted the gathering. 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 in attendance.

Both parties explored strategies to reinforce partnerships, enhance trade ties, and strengthen cooperation between the Sharjah Chamber and the Thai Embassy in the UAE. They discussed improving communication channels to facilitate joint events and reciprocal visits by business leaders and trade delegations. This initiative aims to introduce both business communities to the investment advantages in Sharjah and Thailand.

Furthermore, they deliberated on participating in trade exhibitions and events in both countries, notably the Watch and Jewellery Middle East Show hosted by Expo Centre Sharjah, and the Bangkok Gems and Jewelry Fair. The Thai delegation expressed their interest in facilitating Emirati jewellery designers' participation in the Bangkok Fair and extended an official invitation to the Sharjah Chamber for a visit to Thailand in September of the following year.

Abdullah Sultan Al Owais reaffirmed SCCI's commitment to enhancing economic cooperation and leveraging opportunities to foster bilateral partnerships between the business communities of both nations. He emphasized the importance of private sector engagement in boosting investments and exploring cooperation prospects through joint forums and meetings.

Al Owais also encouraged Thai businesses to explore Sharjah's business ecosystem, highlighting its investment advantages. Thailand has emerged as a significant trade and investment partner for the UAE, with non-oil bilateral trade reaching $3.2 billion in the first half of 2023—a 3.7 percent increase from the same period in 2022. Thailand now represents 20 percent of the UAE’s total non-oil foreign trade within the ASEAN Bloc, making it the UAE’s second-largest trading partner in this region. Conversely, the UAE stands as Thailand’s top trading partner in the Middle East.

The visit concluded with a tour of SCCI’s permanent exhibition by the Thai delegation, where they showed keen interest in local industrial products on display. This meeting marks a significant step towards strengthening economic ties between Sharjah and Thailand, with both sides looking forward to fruitful collaborations that will benefit their respective business communities.

With inputs from WAM