Thailand and Saudi Arabia have signed a number of agreements to cooperate in sectors including energy and tourism as the two countries gradually restore full diplomatic ties.
The countries on Friday signed an energy cooperation agreement, a memorandum of understanding to establish a Saudi-Thai Cooperation Council and another to promote tourism. They will also explore ways to promote more direct investments, a Thai government spokesman said.
The energy pact will cover petroleum, hydrogen, carbon capture and storage, renewable and low-carbon technology, the Energy Ministry said on Saturday.
The agreement consists of two memoranda of understanding (MoU), the first of which covers a green hydrogen/ammonia project in Thailand. It will be carried out by the majority state-owned energy firm PTT Plc and the Electricity Generating Authority of Thailand (Egat), along with Acwa Power Co of Saudi Arabia.
The second MoU between the Ministry of Investment of Saudi Arabia and Egat Group covers various types of clean energy and energy transition.
The agreements cap another step forward in relations between the two countries, with Saudi Crown Prince Mohammad bin Salman visiting Thailand as a special guest at the Asia-Pacific Economic Cooperation (Apec) summit. He and Prime Minister Prayut Chan-o-cha met on Friday and discussed ways to further improve bilateral ties, according to a Thai government spokesman.