Logo of Phnom Penh Post newspaper Phnom Penh Post - Cambodia, Laos set to boost bilateral trade

Cambodia, Laos set to boost bilateral trade

Content image - Phnom Penh Post
Dom Kralor International Border Checkpoint in Stung Treng province. Hong Menea

Cambodia, Laos set to boost bilateral trade

Cambodia and Laos have pledged to boost trade and investment across their border, while trade volume between the two countries last year was just over $27 million, according to the Cambodian Ministry of Commerce.

Ministry data show that bilateral trade between Cambodia and Laos last year was more than $27.25 million. The data did not show trade volumes in 2016 but showed that in 2015, Cambodia’s trade volume with Laos was worth $25.62 million.

Minister of Commerce, Pan Sorasak, who participated in the Lao-Cambodian Business Forum held in Vientiane on December 5, highlighted potential opportunities and Cambodian government policy to Lao investors.

“Cambodia’s open policy and investment protection policies are flexible and highly favourable to foreign direct investment, which will help them make long-term profits and also contribute to developing economic growth in Cambodia,” Sorasak said.

Only Laos

Among neighbouring countries, only Laos has a low trade exchange. Last year, the trade volume between Cambodia and Vietnam was valued at over $3.8 billion while the trade volume with Thailand was worth $6.16 billion.

Lao Minister of Industry and Commerce Khemmani Pholsena said Laos supports the promotion of trade activities between the two countries, urging Cambodia to encourage the Cambodian private sector to invest in Laos.

Cambodia Chamber of Commerce vice-president Lim Heng said that for a short time, the trade volume between Cambodia and Laos would not be increased much, but it could change after completion of a cross-border bridge linking Preah Vihear province to Champasak province of Laos.

According to the plan, Cambodia and Laos will build the bridge to cross the river to facilitate travelling and the transportation of goods between the two countries, Heng said.

“When there is a bridge, Laos can use the seaport in Preah Sihanouk province to transport its goods to international markets.” I think that trade growth between the two countries will increase.”

Heng said there are Cambodian companies and nationals currently investing in the Lao financial and hotel sectors, while Lao investors come to Cambodia mostly to sell electricity only to neighbouring areas.

The Ministry of Tourism’s 2017 annual report showed that Lao tourists to Cambodia stood in third place with more than 500,000 visitors. The report shows that in the first six months of this year, Cambodia saw over 200,000 Lao visitors.

MOST VIEWED

  • Sihanoukville building collapse death toll rises to 19

    Minister of Interior Sar Kheng said on Sunday that the government will act against those responsible for the collapse of a seven-storey building in Sihanoukville on Saturday, which resulted in 19 dead and 24 injured as of Sunday evening. Sar Kheng said three Chinese nationals and one

  • Gov’t to probe Chinese exports to US via Sihanoukville

    The government is investigating allegations that Chinese companies are using Chinese-owned special economic zones in Cambodia to export goods to the US and avoid tariffs, said Ministry of Commerce spokesman Seang Thay. The move comes after US embassy spokesman Arend Zwartjes said the US had

  • Banh: The Khmer Rouge worse than sanctions and pressure

    Minister of National Defence Tea Banh said on Thursday that having sanctions and external pressure placed on Cambodia was not worse than life under the brutal Khmer Rouge regime. Tea Banh, who is also deputy prime minister, was speaking to military and ruling party officials

  • Funcinpec ‘set to sell their headquarters’, says source

    An anonymous source from Funcinpec said acting president Prince Norodom Chakravuth had held a meeting with other officials to discuss selling several of the party headquarters across the country while the party president Prince Norodom Ranariddh receives medical treatment at the Royal Phnom Penh Hospital