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Cambodian-Thai Trade Hits $9B, goal at $15B for 2020

Prathna​​   On January 28, 2020 - 9:06 am​   In Economics  
Cambodian-Thai Trade Hits $9B, goal at $15B for 2020 Cambodian-Thai Trade Hits $9B, goal at $15B for 2020

Bilateral trade between Cambodia and Thailand was worth some $9 billion last year, up 7.14 percent from 2018’s $8.4 billion, data from the Royal Thai Embassy in Phnom Penh shows.

Thailand and Cambodia have maintained excellent relations, as reflected by regular high-level visits and meetings, which have helped further enhance the countries’ mutual understanding and cooperation, the embassy said in a press release.

“Mutual trust, mutual benefit, and cooperation remain fundamental principles in guiding the strengthening of our bilateral ties to a higher level,” it said.

Cambodia and Thailand have on several occasions pledged to increase bilateral trade to $15 billion per annum by this year.

Cambodia Chamber of Commerce vice-president Lim Heng told The Post on Monday that exports to Thailand mostly comprised of agricultural products such as rice, corn, soybean, cassava, cashew nuts, and mangoes.

Cambodia mainly imports machinery, electronic equipment, oil, construction materials, cosmetics and home appliances from its neighbor.

The increase in bilateral trade “is a positive indicator of good cooperation between the two countries”, said Heng.

Thailand is among the top nine countries that expanded their investments in Cambodia between 1994 and the end of 2017’s third quarter, with an investment value of $967.89 million then, Council for the Development of Cambodia data shows.

Thailand is to loan Cambodia, Myanmar, and Laos some $281.6 million this year for the construction of four transnational roads under the ASEAN Connectivity Initiative, the Bangkok Post reported last month.

The Kingdom will receive some $39.78 million to build a 131km stretch of road to Thailand via Siem Reap province and Oddar Meanchey province’s Anlong Veng district, the newspaper reported.

“The interest rate for each road project is fixed at only 0.1 percent,” Thailand’s Neighbouring Countries Economic Development Cooperation Agency head Perames Vudthitornetiraks was quoted as saying.

Source: Phnom Penh Post