Sharjah Chamber Hosts UAE-Thailand Business Forum to Boost Bilateral Economic Ties

Sharjah, The Gulf Observer: The Sharjah Chamber of Commerce and Industry (SCCI) recently hosted the UAE-Thailand Business Forum, marking the arrival of a high-profile delegation from the Thai Chamber of Commerce and Industry. The forum, held at SCCI’s headquarters, aimed to explore investment opportunities and strengthen economic ties between the UAE and Thailand, featuring key business leaders and executives from both nations.

Led by Dr. Visit Limlurcha, Vice Chairman of the Thai Chamber of Commerce, the Thai delegation included notable figures from sectors such as food manufacturing, logistics, import/export, construction materials, and furniture. Fatema Khalifa Al Muqarrab, Director of International Relations Department at SCCI, welcomed the delegation, joined by Ms. Paphavadee Thinprawat, an International Trade Promotion Executive at Thailand’s Board of Trade, alongside senior Emirati and Thai business leaders representing diverse industries.

In her address, Al Muqarrab highlighted the UAE-Thailand Business Forum as an essential platform to deepen economic and trade relations, underscoring SCCI’s commitment to fostering partnerships that benefit both nations’ business communities. She noted the momentum gained since initiating discussions in May 2023 to establish a comprehensive economic partnership agreement, reflecting the shared ambition to expand cooperation across multiple sectors. Al Muqarrab emphasized the substantial growth in non-oil trade between the UAE and Thailand, which reached $6.1 billion in 2022, showcasing a 21% increase and illustrating the robust economic collaboration between the two nations.

The UAE stands as Thailand’s largest trading partner in the Middle East, driven by its strategic economic vision to enhance trade with ASEAN countries. Trade volumes reached $15.3 billion in the first half of 2023, demonstrating the UAE’s commitment to solidifying its role as a primary investment hub for Thai businesses.

Dr. Visit Limlurcha praised Sharjah’s appeal as a commercial and investment hub, remarking on the emirate’s advanced infrastructure and investor-friendly environment. He expressed optimism about Thai businesses’ growth potential in the UAE market, especially in Sharjah, which offers extensive investment incentives.

The forum featured a presentation outlining SCCI’s services, emphasizing the chamber’s role in providing comprehensive support to investors. Thai delegates were briefed on Sharjah’s economic growth, tourism potential, and promising development projects. These factors, combined with the emirate’s facilitative business environment, make Sharjah an attractive investment destination.

The Thai Chamber of Commerce expressed aspirations to increase trade exchange with the UAE, support Thai businesses in entering the UAE market, and forge sustainable partnerships that contribute to the development goals of both countries. The UAE-Thailand Business Forum reaffirmed the shared commitment of both nations to elevate their strategic partnership and expand avenues for mutual economic growth.