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Thai-Cambodia 2020 bilateral trade below goal by 50 percent
Bilateral trade between Cambodia and Thailand for 2020 reached only half of the $15 billion target set by the two governments in 2015. Those targets had set a goal of tripling two-way trade.
Two-way trade between the two nations was valued at $7.236 billion last year, a decrease of 23 percent, according to Thailand’s Ministry of Commerce.
Cambodia’s 2020 exports to Thailand totaled $1.148 billion, a huge drop of 49.5 percent from 2019 figures. Cambodia imported $6.089 billion in goods from Thailand, a drop of 14.8 percent from 2019. The 2020 numbers represent a decline in bilateral trade after years of growth.
Panyarak Poolthup, Thailand’s ambassador to Cambodia said the virus tightened border crossings, making it difficult for an easy flow of goods between the two countries. He added that Thai investors and business people remain bullish on the potential for investment in Cambodia, with investment opportunities still being sought out. Thai companies operating in Cambodia are continuing their normal production chains, he said, despite the challenges of the COVID-19 pandemic.
The Cambodian embassy to Thailand recently announced it would establish a representative office for the Cambodia Business Council in Bangkok. It will serve as a one-stop shop for business and trade between Cambodia and Thailand.
The Cambodian ambassador to Thailand said that once operational the business council trade office will help promote Cambodian products by providing information and training programmes to entrepreneurs and facilitate bilateral trade and investment between the two countries.
Source: https://www.khmertimeskh.com/50807076/thai-cambodia-2020-bilateral-trade-below-goal-by-50-percent/