Thai-Cambodian trade increases 40.5% year-on-year in 2012

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BANGKOK, April 28 – Thai-Cambodian trade in 2012 increased 40.5 per cent to US$4.03 billion from US$2.8 billion in the previous year.

Thai Commerce Minister Boonsong Teriyapirom revealed this after having Thailand-Cambodia’s 4th Joint Trade Committee (JTC) meeting with Cambodia’s Senior Minister/Commerce Minister Jom Prasit last week.

Mr Boonsong said both sides were satisfied with the mutual trade increase. Both Thai and Cambodian ministers agreed that subsequent yearly target growth should be maintained at 30 per cent until 2015 as targeted in the previous meeting.

Concerning trade and investment with agricultural products, both countries agreed to collaborate with rice markets of five ASEAN countries, which are Cambodia, Thailand, Myanmar, Laos, and Vietnam, in order to raise standards and create rice price stability in the world market as well as to deal with possible change such as food security concerns.

The two sides agreed to speed up facilitating goods transportation through several means–such as reducing customs procedures–while an electronic passport system is under consideration for use.

Moreover, trade fairs, exhibitions, and business networking are encouraged between both countries to boost bilateral trade value and volume.