Move to increase cross-border trade with Cambodia

THAILAND and Cambodia will work on strategies next month in a bid to boost bilateral trade by 30 per cent a year over the next five years, while also stimulating more investment in planned special economic zones (SEZs).

Commerce Minister Apiradi Tantraporn said that as Thailand would host the fifth Joint Trade Commission between Thailand and Cambodia in Bangkok on Wednesday and Thursday, both sides would draw up strategies to drive two-way trade from next year till 2020 through strong cooperation under Asean integration and a joint trade panel.

In an effort to increase trade, Thailand will propose the drawing up of a strategy to promote cross-border trade between two nations which focuses on trade in border provinces, increasing trade and investment cooperation in the agricultural sector, and the setting up of a centre for trading agricultural products in the SEZs.

The countries will also discuss the need to solve issues obstructing export-import cross-border trade growth, such as the need to upgrade border checkpoints and allowing traffic flow between both countries.

Thailand and Cambodia aim to help promote more investment from third countries in an SEZ in Sa Kaew.

In another effort to increase cooperation and facilitate more trade and investment between both sides, Thailand and Cambodia will continue exchange trade delegations and organise business match-ups, organise trade exhibitions, and exchange trade and investment information gradually.

Thailand will also form closer ties with Cambodia in promoting tourism growth under the “Two Kingdoms, One Destination” concept, which will emphasise cooperation in developing human resources, promoting academic cooperation, and increasing the linkages between Thai and Cambodian enterprises.

Cambodia is Thailand’s 22nd largest trading partner and the eighth largest in Asean.

Last year, bilateral trade grew to US$5 billion (Bt179 billion), with exports from Thailand worth $4.5 billion. 

Imports from Cambodia were valued $590 million. 

In the first nine months of the year, two-way trade was valued $4 billion.