Thai-Cambodia partnership event to boost border trade
THE Thai Department of Foreign Trade (DFT) will host a Thai-Cambodia economic partnership event in which the governments of both countries and the private sector have been invited to trade and offer investment promotion and solutions.
The event will also feature a business matching activity for four sectors, which expects to result in immediate trade worth over 30 million baht ($947,507), and a talk offering tips on how to enter the Cambodian market.
According to DFT director-general Adul Chotinisakorn, the Thailand-Cambodia Border Economic Partnership will be held on March 25 and 26, with the aim of boosting bilateral ties at the local level and expanding trade at the borders.
This event follows from the Growth Strategy of Border Provinces’ Economic Cooperation, which was signed by the Thai and Cambodian commerce ministers last year.
This year, high-ranking officials from Cambodia’s Ministry of Commerce as well as representatives from the government and private sectors from border provinces in both countries are expected to join the meeting.
Their task is to identify the best approach in stimulating and promoting border trade and investment as well as cooperation on different aspects.
Adul listed several activities at the event, including a business-matching session between 80 Thai and Cambodian entrepreneurs from four sectors – food and beverages (including food supplements), consumer goods (including health and beauty products), agricultural machinery, and automotive (including motorcycle and automotive parts).
He expects this activity to result in immediate trade deals worth 30 million baht, highlighting food and beverages and consumer goods sectors as having the greatest potential.
In addition, there will be a seminar on “How to Conduct Business to Win Cambodians’ Hearts”, in which a Cambodian marketing expert will share tips on conducting business in Cambodia and will give advice on entering the Cambodian market.
On the sidelines, the DFT will lead a group of Cambodian delegates to visit Eiamburapa Co Ltd to check out its cassava-processing technology.
“This is the first time that high-ranking officials from the Cambodian commerce ministry will visit Thailand and participate in an event. The DFT is confident the event will further strengthen the longstanding Thai-Cambodian relations and our partnership with Cambodia as an important border trade partner in particular,” Adul said.
Border trade between the two countries has enjoyed robust growth over the past few years. Last year, Thai-Cambodian border trade was worth 145.79 billion baht, marking an increase of 16 per cent.
The DFT believes the Thailand-Cambodia Border Economic Partnership event will not only boost the economies of the two countries, but will also increase the value of border trade.