Trade between Cambodia and Thailand increased by about 40 per cent to US$3 billion in the first nine months of this year in comparison with the same period last year, according to figures provided by the Royal Embassy of Thailand in Cambodia.
According to Nat Vimonchandra, a counsellor for the Thai embassy, factors influencing the increase in trade include greater consumption within Cambodia due to the ASEAN summit, increased tourist numbers and the growing economy.
“Cambodia’s economy has improved in every sector including agriculture, real estate, garments and tourism,” he said.
“That means the country needs to import materials, food, goods and fuel and energy a lot and Thailand is one of the major countries exporting to Cambodia.”
Nat also said the better political relationship between the two countries is another cause and more specifically, the commitment made in May this year to see a 100 per cent increase in trade between the two countries by 2015.
Economic land concessions have also prompted an increase in demand for machinery and vehicles, according to Praivan Limpanboon from the Thai Business Council of Cambodia.
“I would not rule out the factors in the country such as increases in ELCs which increased demand on vehicles, heavy-duty tractors, bulldozers and other agricultural equipment,” she said.
Praivan also noted that the increase in trade between Thailand and Cambodia was interesting because a report in Thailand showed the country’s exports in general are quite low.
To contact the reporter on this story: Erika Mudie at [email protected]