Cambodia-Thailand trade still growing despite pandemic
Trade between Cambodia and Thailand hit 82.02 billion THB (2.6 billion USD) in the first half of this year, up 2.27 percent year on year, the Phnom Penh Post reported.
Phnom Penh (VNA) – Trade between Cambodia andThailand hit 82.02 billion THB (2.6 billion USD) in the first half of thisyear, up 2.27 percent year on year, the Phnom Penh Post reported.
Cambodia Chamber of Commerce Vice President LimHeng noted the limited scope of cross-border trade restrictions between the twocountries during the COVID-19 crisis, adding that the governments mainlyrestrict the movement of people in a bid to combat the spread of the novelcoronavirus.
The total volume of trade between Cambodia andThailand reached 9.41 billion USD last year, up 12 percent from 8.38 billionUSD in 2018.
The majority of Cambodia’s exports to Thailandinclude gemstones, jewellery, agricultural products and aluminium. Cambodia’simports from Thailand mainly consist of fuel, motorcycles, cars, gemstones andjewellery.
Meanwhile, Thailand’s two-way trade with itsother neighbours plummeted in the first six months, according to data of theThai Department of Foreign Trade.
Its total cross-border trade fell 9.18 percent inthe January-June period on a yearly basis. The bilateral trade with Malaysiasank 26.81 percent, with Laos down 7.09 percent, and with Myanmar down 13.65percent./.
Cambodia’s annual 7-billion-USD garment and textile sector is expected to suffer losses from the European Union (EU)’s partial withdrawal of the tariff preferences granted to the Southeast Asian country under the Everything But Arms (EBA) trade agreement from August 12.
Thailand's cross-border trade fell by 9.18 percent year-on-year in the first half of 2020 due to lockdown measures and the slowing economies of neighbouring countries.
The Prime Minister has issued a plan to implement a memorandum of understanding on the development and connection of border trade infrastructure between Vietnam and Cambodia.
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Pichai said the trade talks with the US are important and need to move forward professionally, without regard for any political changes in Thailand, believing that Thailand has clear principles, guidelines and procedures in place.
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