Cambodian, Thai trades up 36 pct in Q1 despite border row [-So much for Hun Xen's suggestion of boycotting Thai products!]

May 23, 2011
Xinhua

The bilateral trade volume between Cambodia and Thailand is still on the rise in spite of recent deadly clashes between the two countries'troops over the border conflict, statistics showed on Sunday.

Total bilateral trades mounted to 716 million U.S. dollars in the first three months, up 36 percent from 527 million U.S. dollars at the same period last year, according to the statistics provided by Thai Embassy in Phnom Penh on Sunday.

Cambodia's export to Thailand was 55 million U.S. dollars, up 139 percent from 23 million U.S. dollars, while Thailand's export to Cambodia worth 661 million U.S. dollars, up 31 percent from 504 million U.S. dollars.

According to the statistics, Thailand's exports to Cambodia include petroleum, processed goods, consumer products, construction materials, fruits, vegetables and cosmetics, while Cambodia primarily ships agricultural products, second hand garments, recyclable metal, and fishing products.

Thai-Cambodian border trade looks promising after conflicts ease

BANGKOK, Sept 1 (MCOT online news) – The border trade between Thailand and Cambodia looks promising after the political conflicts between the neighboring countries has eased, according to Deputy Commerce Minister Alongkorn Ponlaboot.

Speaking of his trip with the Thai public and private-sector delegation to Cambodia and Vietnam August 28-30, Mr Alongkorn said it is part of Thailand's mission to explore logistic routes linking goods transport between Thailand, Cambodia and Vietnam.

During the trip, bilateral talks were held to expand trade cooperation between Thailand and Cambodia after the political conflicts between both countries had subsided.

Mr Alongkorn said he had an opportunity to meet with Thai businesspersons investing in Cambodia and was informed that the trade between both countries had become active again.

In the first seven months of this year, border trade value between Thailand and Cambodia increased by more than 70 per cent.

It is expected border trade will rise rapidly and reach Bt70 billion in value this year compared with Bt50-60 billion last year.

He said the government had also proposed establishment of a Thai-Cambodian Business Council to serve as a venue for discussion between representatives of official and private business sectors, organisation of trade exhibitions, and business matching.

The government targeted making Thailand become Cambodia's number-one trade partner next year.

Currently, the country ranks second after the United States, he added.

One way trade deficit with Thailand ... while Cambodian rice and cassava are banned in Thailand: What is there to be proud of, Mr. Cham Prasidh?

Cambodia-Thailand: Trade exchange on the rise

23 March 2009
By Ky Soklim
Cambodge Soir Hebdo
Translated from French by Tola Ek
Click here to read the article in French

In spite of the world financial and economic crisis, the results of the economic trade between the two kingdoms show a significant increase. This news was announced by Cham Prasidh, the Cambodian minister of Commerce, during a Thai trade fair held in Phnom Penh.

On 22 March, Cham Prasidh declared during the opening of the Thai trade fair that “commercial trade between the two countries never stops increasing from one year to another.”

In 2008, the volume of commercial trade between the countries amounted $2.1 billion, i.e. a 52% increase over 2007. Cambodia exported about $90 million, but it imported $2 billion worth from Thailand.

“In spite of the financial crisis which affects the region and the world, trade between our two countries is not affected,” Cham Prasidh claimed while adding that the volume of trade exchange amounted only to $1.4 billion in 2007.

The Thai trade fair is held at the Mondial Center in Phnom Penh between 22 and 26 March. 124 companies are participating in the event showcasing 214 display stands. Construction materials, beauty supplies, food, clothes etc… are on display to the Cambodian public. “ I believe that these products are distributed in Cambodia, and they attract more and more the local customers,” Cham Prasidh added.

Thai firms say crisis will pass

July 29, 2008
By Petchanet Pratruangkrai
The Nation

Despite continued controversy about Preah Vihear Temple, Thai companies yesterday vowed not to withdraw their investment from Cambodia.

Somsak Rinruengsin, chairman of the Thai Business Council of Cambodia, said Thai businessmen were still operating in Cambodia as usual.

"Private enterprises believe that the conflict should not be brutal. All transactions are still on track. I believe that Thai companies will not withdraw investment as most are in heavy industry and have spent huge investment capital," said Somsak.

Many large Thai companies have invested in Cambodia, including PTT, ThaiBev, Mitr Pol, CP, SCG and Imperial Group.

Somsak said about 100 Thai SMEs such as restaurants and retailers were still operating normally in Cambodia. Most Cambodian people still have a positive attitude towards Thailand and Thai products.

However, Thai exports to Cambodia slightly dropped in late July due to Cambodia slowing down consumption during its national election.

Jiranun Wongmongkol, minister counsellor (commercial) at the office of commercial affairs at the Royal Thai Embassy in Phnom Penh, said two-way trade was still running smoothly.

"Bilateral trade and investment are normal. But the anti-Thai goods and currency campaign that started on July 25 has slightly affected Thai goods," she said.

She believed the situation was returning to normal.

According to the Commerce Ministry, exports to Cambodia grew sharply by 71.8 per cent in the first half of the year, the highest growth rate in five years, thanks to rising demand for Thai goods and growing trade relations.

Exports to Cambodia reached US$1.08 billion (Bt36.19 billion), while imports jumped 133.79 per cent to $39.9 million.

Exports to Cambodia are expected to reach the target of $1.69 billion this year, an increase of 25 per cent.

At a seminar entitled "Investment overseas: Challenges for Thai Private Enterprises", companies were urged to strengthen trade and investment in neighbouring countries, particularly Cambodia.

Thai enterprises have the potential to invest in neighbouring countries, increasing win-win opportunities for both sides, the seminar was told.

Many investors from China, South Korea and Malaysia have invested in Cambodia.

Deputy Commerce Minister Viroon Tejapaiboon said the Asean Economic Cooperation would focus on strengthening relations with Cambodia, Laos, Burma and Vietnam (CLMV).

Thailand's aim will be to expand agricultural and industrial investment to those countries where cheap labour costs and abundant raw materials will reduce Thailand's production costs. In addition, Thai companies plan to develop manufacturing technology in those countries.

"These neighbouring countries have a rich supply of raw material for our production and lower labour costs. Thus, Thailand should move to invest in the countries," he said.

Narongchai Akrasanee, executive chairman of the Export-Import Bank of Thailand, said the bank supported the Thai private sector in investing abroad, particularly Cambodia.

"We should separate the dispute about Preah Vihear Temple from business. Cooperation between Thailand and Cambodia could generate a huge benefit for both sides," he said.

The bank has approved loans amounting to Bt13 billion for Thai investment in CLMV countries.