Thailand
Cambodia, Thailand bilateral trade down Jan-Feb
Bilateral trade between Cambodia and Thailand was valued at $1.298 billion for the first two months of 2021, a slide of 20.5 percent downwards year-to-date.
Data from Thailand’s Ministry of Commerce cited Cambodian exports for the reporting period of $225 million, down 47 percent from last year.
Cambodian imports from Thailand reached $1.073 billion, an 11 percent increase year-on-year.
Agricultural products accounted for the majority of Cambodia’s exports to Thailand. Thai exports to Cambodia consisted primarily of energy resources, agriculture fertiliser, food supplies and cosmetics.
Trade between the two nations has been dropping since last year.
The availability of Coronavirus vaccines has been cause for optimism among key insiders and government officials for the recovery of economic growth, particularly trade activities.
Lim Heng, vice-president of Cambodia Chamber of Commerce, said, “Once vaccine availability [is more widespread], the recovery of the economy is highly expected and it will boost trade and exports.”
Minister of Cambodia Hun Sen has called on local authorities to facilitate the flow of exports crossing the border from farmers.
Two-way trade between the countries was valued at $7.236 billion last year, down 23 percent from 2019.
On a more positive note, bilateral trade between Cambodia and Singapore reached $4.2 billion in 2020. The figure was presented as Say Chhum, president of the Senate and newly-appointed Ambassador of Singapore to Cambodia Teo Lay Cheng met.
Chhum said bilateraltrade contributed significantly socio-economically to the people of the two nations, adding that Singapore’s investments here reached $1.29 billion between 1994 and 2020.
Source: https://www.khmertimeskh.com/50831807/cambodia-thailand-bilateral-trade-down-jan-feb/