Logo of Phnom Penh Post newspaper Phnom Penh Post - Legal service set to shore up Cambodian-Thai trade ties

Legal service set to shore up Cambodian-Thai trade ties

Content image - Phnom Penh Post
The Cambodian embassy in Bangkok on Friday signed a memorandum of understanding (MoU) with Thai-based iLAWASIA Co Ltd to launch the Trade, Business and Migrants Legal Advisory Service. CAMBODIAN EMBASSY IN BANGKOK

Legal service set to shore up Cambodian-Thai trade ties

The Cambodian embassy in Bangkok on Friday signed a memorandum of understanding (MoU) with Thai-based iLAWASIA Co Ltd to launch a new service that aims to facilitate and provide legal advice to Cambodian-Thai businesspeople and investors.

The MoU seeks to promote the implementation of economic diplomacy with a focus on trade, tourism and culture, the embassy said in a press release on the occasion of the Trade, Business and Migrants Legal Advisory Service’s official launch.

Cambodian ambassador to Thailand Ouk Sorphorn said the MoU will further expand access for the Cambodian and Thai private sectors to legal advice and assistance in trade disputes and contention involving Cambodians working in Thailand, according to the release.

“The MoU is another turning point in the strengthening of bilateral trade and labour cooperation between Cambodia and Thailand, as well as the trust building between the two countries’ business communities in consonance with the policy of the Royal Government of Cambodia.

“We encourage Cambodian-Thai businessmen, traders and investors who wish to partner in business and trade to consult with officers at the trade attache office at the Embassy of Cambodia in Bangkok and avoid disputes in the future, which could adversely affect bilateral trade relations between Cambodia and Thailand,” Sorphorn was quoted as saying.

Cambodia Chamber of Commerce vice-president Lim Heng said he welcomed the new service, which he lauded as a boon for Cambodian migrant workers residing in Thailand.

“This is a windfall for Cambodian workers who have illegally migrated to Thailand for work or whose stay has expired. It’ll make it easier for them to legally live and work there again,” he said.

Speaking at the inauguration of National Road 55 in March, Prime Minister Hun Sen said that with strong cooperation between the governments and private sectors of both countries, he hopes that bilateral trade will hit $15 billion this year.

The $133 million, 182km road links from National Road 5 in Pursat provincial town to the province’s Thma Da commune, which borders Thailand’s Trat province.

Trade volume between the two countries was to the tune of more than $9.41 billion last year, increasing 12 per cent from $8.38 billion in 2018, the Thai embassy in Phnom Penh reported.

Cambodia’s exports to Thailand were worth $2.2 billion, up 195 per cent compared to $768 million in 2018. Thailand’s shipments to Cambodia were $7.14 billion, down six per cent from $7.61 billion in 2018, the embassy said.

Cambodia attracted more than $3.588 billion in foreign direct investment (FDI) last year, up 11.7 per cent from $3.212 billion last year, the National Bank of Cambodia said in its Macroeconomic and Banking Progress 2019 Report and 2020 Outlook.

Of the total, the financial sector received FDI worth $2.385 billion, while the non-financial sector received $1.203 billion.

A breakdown of the data by country showed that Chinese FDIs accounted for 43 per cent, South Korean (11 per cent), Vietnamese (seven per cent), Japanese and Singaporean (six per cent), and other countries (27 per cent).


  • Restrictions re-imposed in capital as Covid cases surge

    Amid the ongoing community outbreak of Covid-19, which has shown no sign of subsiding with 750 infections and 10 deaths reported on June 2 alone, the Phnom Penh Municipal Administration has decided to re-impose the suspension of all occupations and business activities deemed as posing high risk of

  • Phnom Penh-Sihanoukville expressway 51% complete

    The construction of the nearly $2 billion Phnom Penh-Sihanoukville Expressway is 51.35 per cent complete and is expected to be finished in 2023, according to Ministry of Public Works and Transport secretary of state Vasim Sorya. Invested in by Cambodian PPSHV Expressway Co Ltd, the first expressway in

  • First 7-Eleven store to open mid-June, ambassador says

    Thai retail conglomerate CP All Pcl will open Cambodia’s first 7-Eleven convenience store in mid-June, Cambodian ambassador to Thailand Ouk Sorphorn told The Post on June 1. The Bangkok-listed 7-Eleven franchise operator, the retail arm of Charoen Pokphand Group Co Ltd, granted CP All (Cambodia)

  • With herd immunity likely in 2022, is Cambodia ready to reopen for tourism?

    The government aims to inoculate 80 per cent of the target population by June next year, giving it a head start among regional peers to reboot the sector but first, it has to do a few things to up its game A sign on a glass

  • US embassy guard gets Covid despite two doses of Pfizer jab

    The Covid-19 tracking commission on June 4 said a security guard at the US embassy in Phnom Penh had contracted the novel coronavirus, despite having received a second dose of the Pfizer-BioNTech shot two weeks ago. Embassy spokesperson Chad Roedemeier confirmed the SARS-CoV-2 infection to The

  • US wants 'full access' to Ream Naval Base

    On June 11, the US embassy's Defense Attaché Colonel Marcus M Ferrara visited Ream Nava Base in coordination with Cambodian officials following the recent approval of Prime minister Hun Sen to allay the concerns on Chinese military presence at the base as raised by US Deputy