Cambodia-Thailand Bilateral Trade Reaches US$6.6 Billion in First 11 Months
AKP Phnom Penh, January 04, 2021 --
Bilateral trade between Cambodia and Thailand was valued at US$6.6 billion in the first eleven months of this year, down 22 percent compared to the same period last year.
Figures from Thailand’s Ministry of Commerce showed that from January to November this year, Cambodia exported US$1,071 million worth of goods to Thailand, a year-on-year decrease of 51 percent compared to the same period last year.
Meanwhile, Cambodia imported US$5,580 million worth of products from Thailand, a decrease of 12 percent.
The trade between the two neighbouring Kingdoms has been hit hard by the COVID-19 pandemic. But, bilateral trade activities would be recovered in the post-COVID-19 crisis.
In a letter on the special occasion of the 70th anniversary of the establishment of diplomatic relations between Thailand and Cambodia to Samdech Akka Moha Sena Padei Techo Hun Sen, Prime Minister of the Kingdom of Cambodia, H.E. Gen. Prayut Chan-o-cha, Prime Minister of Thailand, affirmed that the relationship between Thailand and Cambodia has never been stronger, with expanding cooperation and mutual benefit in all fields.
The bilateral trade has grown exponentially from around US$300 million twenty years ago to well over US$9 billion in 2019, he noted, added that Thai Investment in Cambodia have been on the increase, contributing positively to Cambodia’s economy, while Thailand’s economy has benefited greatly from Cambodia’s workforce and economic cooperation.
The two countries also made significant progress in enhancing connectivity, exemplified by the first Thailand-Cambodia Friendship Bridge (Ban Nong Ian –Stung Bot) linking Sa Kaeo and Bantey Meanchey provinces, and revival of a railway service that will soon connect many Thai and Cambodian communities and contribute to more efficient trade flows, H.E. Gen. Prayut Chan-o-cha said.
Last year, the two-way trade between the two Kingdoms rose by 12 percent to US$9.2 billion.
By Chea Vannak