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By APD writer Kim Ratha
PHNOM PENH,Aug.15(APD )- A two-way trade between Cambodia and Thailand has risen steadily during the first half of the year – a 7 percent hike compared to the corresponding period last year, a report from Thai Business Council of Cambodia (TBCC) revealed last week.
During the period, bilateral trade between the Kingdoms had reached roughly $4.1billion while the same period last year the two-way trade valued at about $3.8billion, the report showed.
It noted that the volume of Cambodia exported to Thailand, from January to June, was worth about $685million – an increase of 52 per cent compared to same period in 2018. However, the country import from Thailand was at the snail pace with over 1 per cent hike, reaching approximately $3.4billion.
Cambodia exports to Thailand comprises a plethora of agricultural products including, maize, cassava, and soybean while Cambodia imports machinery, electronic equipment, fuel oil, construction materials, cosmetics as well as home appliances from Thailand.
The two countries, moreover, has repeatedly pledged to push up the bilateral trade to reach $15billion by next year. Yet, the plan is seemingly long way to go as the current volume of the trade between the Kingdoms stood at lower than $5billion.
Seang Thay, Ministry of Commerce spokesman, told Khmer Times on Tuesday that Cambodian and Thailand had agreed to achieve the pan few years ago, setting up around 30 per cent increase per year.
Bilateral trade between the Kingdoms had reached $8.4 billion in 2018, a jump of 35.5 percent from 2017’s $6.1 billion, with that move Mr Thay expects that the trade volume could reach around $9billion.
He said Cambodian agricultural product exported to Thailand is still small which needs the Thai helps to facilitate importing more agri products from Cambodia – noting that the country hosts such a trade show within six times every year in Thailand, aiming to showcase Cambodian agricultural product to market.
(ASIA PACIFIC DAILY)
