Thailand
Cambodia: Border improvements to boost tripartite trade
The government plans to improve border checkpoint infrastructure and promote Single Window Services with Vietnam and Thailand in a bid to boost trade among the Asean nations.
The Ministry of Economy and Finance’s Economic and Financial Policy Committee, chaired by Economic Minister Aun Pornmoniroth, made the announcement during the meeting over Single Window Services between Cambodia, Vietnam and Thailand on Friday.
The Economic and Financial Policy Committee said that to promote cross-border transport, inspections and reviews of Single Window Services with Thailand and Vietnam is urgently needed.
“To promote future trade the Cambodian government must be focus on renovations of infrastructure at the Bavet-Moc Bai border checkpoint at Svay Rieng province,” the committee said.
“To expand infrastructure linked to the border, and to facilitate transportation across the border, we must continue tight cooperation with Vietnamese authorities.”
The committee also supported the construction of the Phnom Penh–Bavet expressway and a common control area along the Cambodia-Vietnam border.
“This will facilitate cross-border procedures with increased operational efficiency, in particular with regards to Single Window Services,” it said.
Vietnamese Ambassador to Cambodia Vu Quang Minh said at a forum in December trade and investment activities between the countries are growing and attracting more companies.
Meanwhile, as Poipet International Checkpoint cannot meet current demand, the government is lobbying Thailand to fully open the temporary Stung Bot-Ban Nong Ian International Checkpoint in Banteay Meanchey province.
Cambodia Freight Forwarders Association president Sin Chanthy told The Post on Sunday that infrastructure plays an importance roll to support trade.
He said the shipping of goods will be faster once the reviews are carried out, the Single Window Services improved and infrastructure is built.
“It is a good move that the government plans to renovate infrastructure along the borders of Vietnam and Thailand,” he said.
Trade between Cambodia and Vietnam reached more than $5 billion last year compared to $4.7 billion in 2018. Cambodia-Thailand trade was worth some $9 billion last year.
Source: https://www.phnompenhpost.com/business/border-improvements-boost-tripartite-trade