By Petchanet Pratruangkrai
The Nation
Trade between Thailand and Cambodia could take a hit as a result of a protracted military conflict between the two countries, according to the Thai Chamber of Commerce (TCC).
Economic and business opportunity losses could amount to Bt10 billion, as bilateral trade is forecast to plunge from Bt60 billion to just Bt50 billion for this year.
Last year's two-way trade value was Bt48.4 billion, with the balance hugely in Thailand's favour.
Thai exports totalled Bt47 billion, while Cambodian exports to Thailand were only about Bt1.3 billion.
Niyom Waiyawatchapanich, chairman of the TCC's Neighbouring Countries Trade Promotion Committee, said the ongoing conflict had especially hurt Thai exporters.
"On average, we could lose Bt100 million per day in trade value if gateways for cross-border trade were shut down," said Niyom, adding that 70 per cent of the bilateral trade is currently generated by cross-border merchants.
Niyom said Thai businessmen hoped the conflict would end soon to avoid serious impact on trade and investment.
So far, bilateral cooperation has also been delayed by the conflict, with plans for a five-year joint tourism development programme and single visas for visitors to both Thai and Cambodian destinations put on hold.
Moreover, Thai investors, who have contract farming businesses in Cambodia, have lost Bt300 million-Bt400 million in revenue due to the military conflict as they cannot transport farm output to Thailand.
Thanavath Phonvichai, director of the University of Thai Chamber of Commerce's Economic and Business Forecasting Centre, is optimistic that the border situation should return to normal soon.
He said Cambodia relied on imports of several essential products from Thailand, including refined petroleum products, construction materials, food and beverages, sugar, and consumer goods.
The TCC, meanwhile, will also hold a meeting with representatives of the business community in five border provinces on Monday to assess economic and business impacts resulting from the military conflict.
Economic and business opportunity losses could amount to Bt10 billion, as bilateral trade is forecast to plunge from Bt60 billion to just Bt50 billion for this year.
Last year's two-way trade value was Bt48.4 billion, with the balance hugely in Thailand's favour.
Thai exports totalled Bt47 billion, while Cambodian exports to Thailand were only about Bt1.3 billion.
Niyom Waiyawatchapanich, chairman of the TCC's Neighbouring Countries Trade Promotion Committee, said the ongoing conflict had especially hurt Thai exporters.
"On average, we could lose Bt100 million per day in trade value if gateways for cross-border trade were shut down," said Niyom, adding that 70 per cent of the bilateral trade is currently generated by cross-border merchants.
Niyom said Thai businessmen hoped the conflict would end soon to avoid serious impact on trade and investment.
So far, bilateral cooperation has also been delayed by the conflict, with plans for a five-year joint tourism development programme and single visas for visitors to both Thai and Cambodian destinations put on hold.
Moreover, Thai investors, who have contract farming businesses in Cambodia, have lost Bt300 million-Bt400 million in revenue due to the military conflict as they cannot transport farm output to Thailand.
Thanavath Phonvichai, director of the University of Thai Chamber of Commerce's Economic and Business Forecasting Centre, is optimistic that the border situation should return to normal soon.
He said Cambodia relied on imports of several essential products from Thailand, including refined petroleum products, construction materials, food and beverages, sugar, and consumer goods.
The TCC, meanwhile, will also hold a meeting with representatives of the business community in five border provinces on Monday to assess economic and business impacts resulting from the military conflict.
8 comments:
Keep buying local products and boycott Siem and Yuon products.
Good for our economy.
Cheers.
If PAD is leading the Thailand, all border crossing will be close. And so, the trading between the two country will be Bt 0.00 billion. Thais people doesn’t seem smart at all.
Thai will lost a lot of their revenues. We import a lot of their products, but we export far less than to their country. They will lost in economically in goods and tourism. Oversea Khmer won't fly through Bangkok no more.
We need to boycott Siem and Hanoi products to make them suffer. If we don't buy their products, they won't have the business too.
11:40 PM, I am agree with you 100%.
I would like to urge all Cambodians inland and
oversea please boycott Siem and Yourn products and services.
Do this for our country.
While the thais loses its market in Cambodia it is the yuons who will take advance of this situation to definitively install its market and political trade and culture conjuncture over Cambodia. I talk with yuons, yuons are often so envy with the thais regarding our Khmer consideration over thais than youns and our close culture alliance khmer-siam. Even most thai people look more Khmer than Khmer in Cambodia. What’s shit world. Yuons want thais and Khmer to be in conflict to prosper and extend its influence
How shit thais cant understand about it
48,4 billions paid thai products, how much for the yuons? And how much yuons exploit our natural resource and at time lead genocide against Khmer for that? How much that cost to Khmer in life and suffering?
The cpp make propaganda of its greatest development and glory of its leaders including bunary kvang. How Cambodia remain a beggar country and 90% ordinary people, beside few heads foreign traders and corrupted leaders, live miserably, repressed, imputed from all rights and dignities under line of poverty.
Why cant Cambodia lead its self sufficient economics and boycott all yuons and thais products? I don’t think it is question of way to have enough food for all Cambodians without running products from yuons and thais but it is unfortunately serious political reasons to remain Cambodia a beggar state , rule by a bunch of killers (Khmer rouge/ dictators), all supervised and handled by yuons hanoi
Man where am I going to buy my golf club?
Ah antith chuk klanh kbal puos douch hing phnaek lib beuk min rouch if you have enough money to buy golf club while 90% of our people cant even eat at their hungry, come here I can offer your a thousand of free golf stick
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