Thai trade delegation bags contracts worth THB1.3 billion in UAE

Jurin led a team of senior ministry officials and representatives of private companies to the United Arab Emirates on Monday and Tuesday.

Before returning to Thailand on Tuesday, Jurin and his delegation met government officials and Thai companies operating in Dubai.

After the meeting, Jurin said the trip has resulted in the signing of five contracts worth 1.33 billion baht. Of them, two worth 21 million baht are related to food, one worth 630 million baht related to sanitary ware, one auto parts contract worth 542 million baht and one melamine ware contract worth 140 million baht.

Thai contractors will start supplying goods based on the contracts within this year, Jurin said.

At the meeting, state and private agencies agreed that Dubai could serve as a staging point for Thai firms to access markets in the six Gulf Cooperation Council nations, namely Saudi Arabia, Kuwait, Oman, UAE, Qatar and Bahrain.

The meeting was informed that about 15 to 18 Thai small- and medium-sized firms are operating in Dubai, including SCG International Middle East Trading LLC, Perfect Companion Trading LLC, as well as Little Bangkok and Siam restaurants.

The meeting also resolved to set up a Thai-UAE business council to facilitate bilateral trade and investments between Thailand and UAE.

The council will be a formal business platform endorsed by both governments, Jurin said, adding that it would generate some 30 billion baht of trade revenue for Thailand.

The minister said UAE is a top market for Thailand in the Middle East, with bilateral trade accounting for 730 billion baht last year, up by 74%. Of the total, 118 billion accounted for UAE’s exports to Thailand, up 22.19%.

The meeting also learned that a Thai developer has opened the Thai Souq in the Souk Al Marfa wholesale market in the heart of Dubai Deira.

Jurin said the Thai Souq has over 30 stalls that sell Thai products, including foods, drinks, artworks, souvenirs, fashion and accessory goods as well as Thai massage shops.

Jurin said the management of Thai Souq is willing to share its knowledge of exports to the UAE and operating businesses there with Thai SMEs.