A business delegation of about 70 Thai companies is due to visit Cambodia on August 5 in a bid to further strengthen business, trade and investment cooperation between the two countries as well as their primary trade bodies, the Ministry of Commerce announced on July 22.
According to a commerce ministry statement, details of next month’s trade mission were revealed at a July 22 meeting between ministry secretary of state Seang Thay and a Thai Chamber of Commerce (TCC) delegation, which was attended by senior ministry officials and Cambodia Chamber of Commerce (CCC) representatives.
It noted that the mission will be led by the TCC chairman – Sanan Angubolkul – and include a courtesy call on commerce minister Pan Sorasak.
Speaking in the statement, Thay welcomed the mission, saying that Cambodia maintains “good cooperation in all fields” with Thailand, in both the bilateral and ASEAN frameworks, as trade between the two neighbouring countries grows significantly from year to year.
“The Ministry of Commerce will cooperate with the Thai Chamber of Commerce in organising the aforementioned [mission], in a bid to further boost trade and investment cooperation between the two countries,” he said.
Bilateral trade between Cambodia and Thailand rose 22.8 per cent to $2.297 billion in the first half of 2022 from $1.870 billion a year ago, according to the General Department of Customs and Excise.
Exports to Thailand grew 36.7 per cent year-on-year to $495.778 million while imports climbed 19.5 per cent to $1.801 billion. Meanwhile, Cambodia’s trade deficit with Thailand for the January-June period stood at $1.306 billion, expanding by 14 per cent on a yearly basis.
Cambodia Chamber of Commerce (CCC) vice-president Lim Heng told The Post that Cambodian-Thai trade volume has “steadily increased” across a variety of the two kingdom’s land and water border crossings. He predicted that bilateral trade would remain in growth mode as more investment pours in from Thailand.
He said that the bulk of Cambodian exports to Thailand comprise agricultural raw materials, while major imports include household products, construction materials, foods, electronic components and cosmetics.
Meanwhile, the Logistics and Supply Chain Business Association in Cambodia (Loscba) on July 24 inaugurated a branch office in Battambang town, in the Kingdom’s northwest.
The uptick in cross-border freight activity between the two countries and expected jump after the Covid-19 crisis is quelled prompted Loscba to open the new office in Battambang, one of the seven provinces bordering Thailand, the association’s president Chea Chandara told The Post while at the inauguration ceremony.
“Freight transport between the two countries will be more active, as Thailand can lend an invaluable hand in exporting Cambodian agricultural products to international markets,” he said.