Cambodia and Thailand commit to achieving a bilateral trade volume of $15 billion by 2025

PHNOM PENH: The senior official of Cambodia has inspired all stakeholders to continue working hard to attain the $15 billion worth of Cambodia-Thailand bilateral trade volume set by the two countries Prime Ministers.

The encouragement was made by H.E. Pan Sorasak, Cambodian Minister of Commerce, in his keynote speech at a workshop on Future Direction of Trade and Investment Opportunities in Cambodia 2023, held in Bangkok, Thailand yesterday afternoon to disseminate and share information on the economic situation and outlook for trade and investment in Cambodia after the COVID-19 crisis.

At the function, H.E. Pan Sorasak stressed the significance of the workshop for potential Thai investors to find all relevant information on trade and investment opportunities in Cambodia and encouraged them to study, invest and expand their investments, particularly in areas of circular economy and agro-industry in Cambodia to take advantages from bilateral and regional trade agreements.

The Cambodian minister further requested the and to collaborate with the Cambodia Chamber of Commerce (CCC) for the exchange of visits between both countries' private sectors to deepen trade and investment activities in both countries, as well as took the opportunity to invite concerned private sector, companies and businesspeople of Thailand to attend the 17th Cambodian and Import-Export Goods Exhibition (CIEG) to be held in mid-December this year in Phnom Penh.

H.E. Minister spoke highly of crucial progress of cooperation in all sectors between the two neighboring countries over the last couple of years despite the COVID-19 pandemic, reaffirming the commitment of the Royal Government of Cambodia (RGC) to deep reforms and adoption of laws, policies, and other measures to grasp the opportunities emerging from the crisis and ensure socio-economic development at the time when the world is facing with the rapid change of trade and economic architecture caused by global challenges such as COVID-19, trade and technology war, geopolitical tensions and climate change.

Favorable conditions such as free trade agreements with ASEAN, China, the Republic of Korea, and RCEP were also mentioned by the minister on the occasion.

H.E. Pan Sorasak thanked the Thailand-Cambodia Business Council (TCBC), Thailand Chamber of Commerce, Thailand Business Council, and Joint Standing Committee on Commerce, Industry, and Banking (JSCCIB), for the organization of the important workshop, as well as appreciated active involvement of the participations, a reflection of strong commitment and a huge driving force towards future bilateral cooperation on trade and investment between both nations.

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