Thai businesses eye expanding trade, investment in Cambodia
Thai businesses have set their sights on expanding trade and investment in Cambodia, especially in processed food, agriculture, tourism, renewable energy, plastic, and gems and jewellery.
The Aranyaprathet-Poipet border gate of Thailand and Cambodia (Photo: Asia News)
Bangkok (VNA) – Thai businesses have set theirsights on expanding trade and investment in Cambodia, especially in processedfood, agriculture, tourism, renewable energy, plastic, and gems and jewellery.
Sanan Angubolkul, chairman of the Thai Chamber of Commerce(TCC), said Cambodia is seeing average economic growth of 7 – 8% per year as aresult of the country opening up to foreign direct investment.
Cambodia has been trying to develop its tourism andagricultural sectors, but the country still lacks sufficient knowledge andmodern technology, especially in terms of storage and processing in order toincrease values.
This offers a very good opportunity for Thai businesses toforge joint investments with Cambodian counterparts in many sectors as above, accordingto Sanan, who is also chairman of the Board of Trade of Thailand. He led thefirst post-pandemic visit to Cambodia by more than 60 Thai businesses on August4 – 5.
The Thai business delegations also met with Cambodia’sIndustry, Science, Technology and Innovation Minister Cham Prasidh. They urgedthe Cambodian government to help tackle obstacles to trade facilitation, interms of rules and redundant regulations, to attract more foreign investment.
Sanan said Cambodia is potentially capable of becoming anexport-orientated manufacturing base for Thai investors now that the countryhas free-trade agreements with several countries, including China and theRepublic of Korea.
He added that the Thai business sector has also proposedthat cooperation be focused on gems and jewellery, as well as education.
According to Sanan, the business group also proposed thatthe Thai government re-establish a rail link between Sa Kaeo’s Aranyaprathetdistrict and Cambodia’s Poi Pet to facilitate cross-border trade and boosttourism around Thailand’s eastern border.
The rail link was halted following the outbreak of COVID-19in 2020.
Two-way trade between Thailand and Cambodia totalled 7.97billion USD in 2021, up 10.2% from a year before.
Exports from Thailand accounted for 7.07 billion USD, andimports stood at 895 million USD./.
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The Aranyaprathet-Poipet border gate of Thailand and Cambodia (Photo: Asia News) 
