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Cambodia-Thailand trade tops $7.97 billion last year
The bilateral trade between Cambodia and Thailand was valued at $7.97 billion last year, a 10.26 percent increase compared to a year before. Figures from Thailand’s Commerce Ministry showed that Cambodia exported $894 million worth of goods to Thailand, a year-on-year decrease of 22.10 percent.
The Kingdom imported over $7 billion worth of goods from its neighbouring country, 16.37 percent year-on-year increase.
Cambodia’s main exports to Thailand include textiles, agricultural products, gems, raw materials and semi-finished products.
Imports from Thailand include fish, meat, vegetables, automobiles, organic fertilisers, foodstuffs, and construction materials.
Exports of agricultural products to Thailand have always faced the barriers of sanitary and phytosanitary requirements.
Lim Heng, vice-president of the Cambodia Chamber of Commerce, said that it is important that the country should improve the standard of sanitary and phytosanitary conditions. The investment in warehouses along the border are also needed to facilitate agricultural exports to neighbouring countries.
“To boost export of agricultural product to markets, works related to the sanitary and phytosanitary conditions are needed to be improved, particularly investment from the private sector in building facilities as cool warehouses for agricultural products to comply with the sanitary and phytosanitary standards,” he said.
Jiranan Vongmongkol, president of the Thai Business Association in Cambodia, said recently that the trade activities between the two neighbouring countries have resumed from the pandemic, which posted strict measures on border crossing goods transport. “Trade between Cambodia and Thailand has increased significantly, including the flow of goods between the two countries,” she said.
The two countries have placed high hopes to continue pushing bilateral trade up to $15 billion by 2023.
Recently, the supermarket chains in Thailand – Big C and retail store 7-Eleven – debuted their stores in Phnom Penh. They also unveiled plans to increase shops in Cambodia.
About 70 percent to 80 percent of products displayed in those markets are imports from Thailand and the rest are supplied locally.
Source: https://www.khmertimeskh.com/501012634/cambodia-thailand-trade-tops-7-97-billion-last-year/