BANGKOK: Cross-border trade between Cambodia and Thailand continues to rise despite a nationwide lockdown in Thailand since last week.
However, bilateral trade volume between the two nations is likely to fall short of this year’s US$15 billion target due to the Covid-19 pandemic, officials from both countries have said.
Thai Department of Foreign Trade director-general Keerati Rushchano said cross-border trade with Cambodia reached 33.904 billion baht in
the first two months of this
year, up 15.66 per cent year on year.
According to The Nation daily, Thailand’s cross-border trade with neighbouring countries totalled 171.314 billion baht during the period, down 6.46 per cent compared with last year.
Keerati said Cambodian imports from Thailand climbed 14.86 per cent during the period, fuelled by shipments of non-alcoholic drinks, vehicles, electrical equipment and components, and livestock products.
Other Thai export destinations are Laos and Myanmar, for non-alcoholic drinks, computers, diesel oil, fabric and thread, and Malaysia for rubber products, computers, electrical equipment and components.
Cambodian Commerce Ministry spokesman Seang Thai told the Phnom Penh Post that although Thailand was in the midst of a lockdown, travel restrictions applies only to people, not goods.
“We are very happy to see the news that trade between our countries continues to increase.
“With the concern surrounding the rise of Covid-19 cases, Thailand declared a lockdown, but it didn’t halt trade, it only banned people from travelling.” Seang said.
He added that while the threat of Covid-19 lingers, factories will be disrupted as they cut production and switch their focus to the battle against the pandemic.
“Both of our countries have been impacted by Covid-19.
“If the pandemic lasts too long, it will hurt our chances of hitting the target set by both of our leaders to boost cross-border trade,” Seang said.
Keerati said the pandemic prompted his department to postpone a border trade fair last month.
Once the disease is under control, “the department plans to boost border trade with fairs in provinces across the country”, he added.
According to data from the Thai embassy in Phnom Penh, bilateral trade between Cambodia and Thailand reached US$9 billion last year, up 7.14 per cent from 2018’s US$8.4 billion.
Thailand is among the top nine countries that expanded its
investments in Cambodia between 1994 and the end of 2017’s third quarter, with an investment value of US$967.89 million during the timeframe, data from the Council for the Development of Cambodia shows.