The trade exchange between Cambodia and Thailand is on the growing trend thanks to enhanced close relations between both countries' governments and people, a senior Thai official said.
The people-to-people and government-to-government relations, potential business environment, and Cambodia's high economic growth are among the main factors for the increasing Cambodia-Thailand two-way trade, said Mrs. Vannaporn Ketudat, Deputy Director General of the Department of International Trade Promotion Executive Office of Thailand's Ministry of Commerce.
The day-to-day enhancing relations between people to people and government to government are the main factor to boost the bilateral trade volume in years to come, Mrs. Vannaporn said.
Prime Ministers of the two nations � Samdech Akka Moha Sena Padei Techo Hun Sen of Cambodia and General Prayut Chan o-cha of Thailand in late 2015 agreed to triple the bilateral trade volume from the current US$5 billion by 2020.
I believe that the [set] target will be reached because we have good infrastructure, we have railway line, road and digital connectivity, Mrs. Vannaporn stressed.
The rail line linking Phnom Penh of Cambodia to Bangkok of Thailand has been set to be officially launched in a very near future which will contribute to boosting trade activities through the facilitation of goods and people transportation.
Even though Thailand's exports to Cambodia are bigger than Cambodia's exports to Thailand, Mrs. Vannaporn said Thai investors and businessmen have established factories and businesses in Cambodia, which reflects the investment potential of Cambodia for them.
Cambodia is a very attractive country with diverse potential. Agriculture and manufacturing-SMEs sectors are very strong, so Cambodia has a very big potential for attracting investments from Thailand compared to other CLMV countries, Mrs. Vannaporn added.
To promote Cambodian trade sector, the Thai side agreed to consider allowing Cambodia to export agricultural products to the third country through Laem Chabang deep sea port, in the Thai province of Chon Buri.
The agreement was made in a meeting between Cambodian Minister of Commerce H.E. Pan Sorasak and his Thai counterpart H.E. Mrs. Apiradi Tantraporn on July 6 in Phnom Penh.
There are over 200 Thai companies in Cambodia investing in the fields of agriculture, manufacturing, tourism, retail, and digital industry, according to Thailand's Ministry of Commerce.
Our policy is Moving Forward Together, to be part of global supply chains together, she said of the Thai investments in the country.
H.E. Mey Kalyan, a Senior Advisor to the Supreme Economic Council of Cambodia, told AKP recently that transport connectivity will be a key tool to lure investments from Thailand.
Source: Agency Kampuchea Press