(Bloomberg) — Thailand and Saudi Arabia signed a number of bilateral agreements to cooperate in sectors including energy and tourism as the two countries gradually restore full diplomatic ties.
Saudi Crown Prince Mohammad bin Salman, who was invited by Thailand as a special guest at the Asia-Pacific Economic Cooperation Economic Leader’s Meeting, met Thai Prime Minister Prayuth Chan-Ocha late Friday and the two discussed ways to further improve bilateral relations, according to a Thai government spokesperson.
Prince Mohammad, who was recently appointed as prime minister, is the highest-ranked Saudi royal family member to visit Thailand after the two countries agreed this year to resume diplomatic ties that were severed for more than three decades following a jewelry theft in 1989 and the subsequent murder of three Saudi diplomats.
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The two countries signed an energy cooperation agreement, a memorial of understanding to establish a Saudi-Thai Cooperation Council and another to promote tourism. The nations will also explore ways to promote direct investments, the Thai spokesperson said.
The energy pact will cover petroleum, hydrogen, carbon capture and storage, renewable and low carbon technology, Thailand’s energy ministry said in a statement on Saturday.
State-run PTT Pcl and Electricity Generating Authority of Thailand signed an initial agreement with ACWA Power Co. for development of renewable power, green hydrogen and an ammonia project in Thailand, the ministry said.
—With assistance from Suttinee Yuvejwattana.
(Updates with details of energy pact from penultimate paragraph.)