Cambodia, Thailand bilateral trade valued at $6.6 billion in first 11 Months

Bilateral trade between Cambodia and Thailand was valued at $6.6 billion in the first 11 months this year. KT/Sok Chan

Bilateral trade between Cambodia and Thailand was valued at $6.6 billion in the first 11 months this year, sliding down 22 percent compared to the same period last year.

Figures from Thailand’s Ministry of Commerce showed that from January to November this year, Cambodia exported $1,071 million worth of products to Thailand, a year-on-year decrease of 51 percent.

Meanwhile, Cambodia imported $5,580 million worth of products from Thailand, inching down 12 percent compared to that last year.

The trade between the neighboring Kingdoms was hit hard by the COVID-19 pandemic. However, trade activities would be recovered in the post-COVID-19 crisis.

In a letter on the special occasion of the 70th anniversary of the establishment of diplomatic relations between Thailand and Cambodia to Prime Minister of Cambodia Hun Sen, Gen. Prayut Chan-o-cha, Prime Minister of Thailand affirmed that the relationship between Thailand and Cambodia has never been stronger, with expanding cooperation and mutual benefit in all fields.

“Remarkably, our bilateral trade has grown exponentially from around $300 million twenty years ago to well over $9 billion in 2019. Thai Investment in Cambodia has been on the increase, contributing positively to Cambodia’s economy, while Thailand’s economy has benefited greatly from Cambodia’s workforce and economic cooperation,” he wrote.

The two countries also made significant progress in enhancing connectivity, exemplified by the first Thailand-Cambodia Friendship Bridge (Ban Nong Ian –Stung Bot) linking Sa Kaeo and Bantey Meanchey provinces, and revival of a railway service that will soon connect many Thai and Cambodian communities and contribute to more efficient trade flows, Gen. Prayut Chan-o-cha said.

Last year, the two-way trade between the two Kingdoms rose by 12 percent to $9.2 billion.

Source: Khmer Times