Thai-Cambodian economic cooperation

Chatrudee Theparat

Cambodia and Thailand agreed to strengthen engine of growth

Cambodian and Thai government agreed to strengthen economic cooperation covering on an increasing trade & investment, tourism, upgrade for border checkpoints, rail links for cargo train.

Prime Minister Samdech Moha Borvor Thipadei Hun Manet of Cambodia to pay an official visit to Thailand on February 7.

In order to strengthen bilateral relations, Thailand and Cambodia agreed to elevate the relations to become “strategic partnership”, which will open up many new opportunities to work more closely. Thailand will open a new Consulate-General in Siem Reap, while Cambodia will open a new Consulate-General in Songkhla later this year.
PM Hun Manet said in a press conference that on economic cooperation, the two countries agreed to tie economic development in order to drive engine of growth.

“We discuss on steps for boosting bilateral trade, facilitating goods transport crossing the border, and removing barriers between the two countries by facilitating and upgrading border checkpoints and rail links for cargo trains especially an import of electronics and electrical products.”

Thailand will host the 7th Joint Trade Committee (JTC) at the Commerce Minister level as early as May 2024, to come up with a plan to boost the volume of bilateral trade.

Last September in Phnom Penh, both sides set a target of $15 billion trade by 2025.

Regarding to tourism cooperation, the two countries agreed to look into ways to make it easier for tourists to travel across borders and visit points of interest in Thailand and Cambodia, as well as in other neighboring countries in one trip under the “Six-Countries, One-Destination” campaign to promote regional tourism.

The agreement on border crossing will also be updated to allow for the use of temporary border pass, longer stay, and access to non-border provinces. Thailand and Cambodia will resume negotiation on the bilateral agreement on cross-border transportation by road to enable border crossing by private cars.

In order to meet demand of workers in Thailand, the two countries agreed to facilitate procedures for workers.

Prime Minister Sreetha Thavisin reassured Prime Minister Hun Manet that Thailand has attached high importance to making sure that Cambodian workers in Thailand receive fair treatment and proper economic safety net.

On the development of border areas, the two sides discussed and agreed to enhance cooperation in the exploitation of hydrocarbons resources in the Overlapping Claims Area. The two countries will make progress on the upgrading of pending border-crossing checkpoints. The Joint Boundary Commission (JBC) will be convened at the earliest opportunity.

Mr Srettha and Mr Hun Manet also witnessed the signing of five memorandum of understanding (MoUs).