Thailand diplomats to gauge investment in northwest Cambodia
Thailand diplomats to gauge investment in northwest Cambodia
The foreign ministry and Cambodian embassy in Bangkok are set to conduct a second study visit, for 17 foreign Thai-based diplomatic corps, from September 1-4 in neighbouring Siem Reap and Banteay Meanchey provinces to promote the Kingdom’s Economic Diplomacy vision and allow diplomats to get a feel for specific investment opportunities of interest to their respective countries.
According to a press statement from the embassy received by The Post on August 31, the visit will include seminars held with the participation of the foreign, commerce and tourism ministries, the Council for the Development of Cambodia, and other institutions.
The statement named the 17 countries represented as Argentina, Austria, Bangladesh, Brazil, Colombia, Egypt, Finland, Guatemala, Indonesia, Maldives, Mexico, Nepal, New Zealand, Poland, South Africa, South Korea and Thailand.
‘Close cooperation’
Cambodian ambassador to Thailand Ouk Sorphorn told The Post on August 31 that “with the close cooperation and strong support” from authorities of the two provinces, the diplomats will see the renowned temples of Angkor Archaeological Park.
“The participants will get to experience the city tour and community markets as well as enjoy Cambodian cultural and historical performances and visit places like Angkor Green Garden.
“They will also witness the connectivity between Cambodia and Thailand as well as visit a special economic zone [SEZ] in Banteay Meanchey province,” Sorphorn said. He identified the SEZ as the Poipet-O’Neang Industrial Estate in Orussey commune’s O’Neang of northern Poipet town.
“It’ll be a very important study visit that’ll allow the diplomats to understand more about our investment opportunities so that they’ll pass the word to investors back home for them to come and do businesses or invest in our country,” Sorphorn added.
Understanding trade ties
He emphasised that the diplomats will gain a better understanding of Cambodia’s new Law on Investment as well as the Kingdom’s bilateral, regional and broader free trade agreements.
Bilateral trade between Cambodia and Thailand rose 26.43 per cent to $2.781 billion in the first seven months of 2022 from a year ago, according to the General Department of Customs and Excise.
Exports to Thailand grew 38.03 per cent year-on-year to $559.010 million while imports climbed 23.82 per cent to $2.222 billion. Cambodia’s trade deficit with Thailand for the January-July period stood at $1.663 billion, expanding by 19.67 per cent on a yearly basis.
