Cambodia-Thailand trade shows promising growth
Despite the effects of the Covid-19 pandemic, the bilateral trade between Cambodia and Thailand showed significant growth in the last three years.
During a courtesy meeting between the Cambodian Chamber of Commerce and the Thai Chamber of Commerce and the Thai Business Commission last week, commerce minister Pan Sorasak urged Thai investors in Cambodia to become more active in promoting trade and investment.
Chairman of the Thai Chamber of Commerce Sanan Angubolkul said, “The purpose of the Thai Chamber of Commerce delegation’s current visit was to increase trade opportunities and expand the market network through high-quality trade fairs, especially in Cambodia, Laos, Myanmar and Vietnam (CLMV). In addition, this trade visit and trade fair play an important role in connecting with business partners in Cambodia, such as the Cambodian Chamber of Commerce as well as trade associations to invite Cambodian-Thai businessmen to meet in order to strengthen and expand trade relations as well as increase trade volume between Cambodia and Thailand.”
Lim Heng, Vice President of the Cambodian Chamber of Commerce (CCC), said that the Cambodian Chamber of Commerce and the Thai Chamber of Commerce have been working closely to promote business matching between the two countries to ensure the flow of business and investment. This meeting will also include business matching between the two countries, which will bring mutual benefits for both parties.
He also encouraged all traders and investors to actively participate and find more of their investment partners for mutual benefit and to achieve fruitful results in the future.
Meanwhile, the Ministry of Commerce also asked the chairman of the Thai Chamber of Commerce to help promote some important business activities, including the Organize Cambodia-Thailand trade mission. Moreover, they should participate in the Cambodia Expo, which is held annually in Phnom Penh and organised by the Ministry of Commerce of Cambodia; and participate in business forums to strengthen trade and investment relations between Cambodia and Thailand.
Bilateral trade between Cambodia and Thailand rose 22.8 percent to $2.297 billion in the first half of 2022 from $1.870 billion a year ago, according to the General Department of Customs and Excise. Exports to Thailand grew 36.7 per cent year-on-year to $495.778 million while imports climbed 19.5 per cent to $1.801 billion. Meanwhile, Cambodia’s trade deficit with Thailand for the January-June period stood at $1.306 billion, expanding by 14 per cent on a yearly basis.