May 21, 2013
Trade between Thailand and Cambodia went off in a wild divergence in the first quarter of this year.Exports from Cambodia rose 19% to US$102 million (2.9 billion baht) year-on-year, while Thailand's imports recorded a 4% decline to $1 billion, the Phnom Penh Post reported on Monday, citing figures from the Cambodian Commerce Ministry.
"A lot of Cambodian agricultural products are being exported to Thailand as some barriers have been [adjusted] and thats why we are seeing imports from Cambodia to Thailand increasing quite a lot," Thai trade counsellor Jiranun Wongmongkol told the newspaper.
The diplomat cited the baht's appreciation as a factor leading to the dip of Thai products being exported to Cambodia.
Cambodian Commerce Minister Cham Prasidh told the Koh Kong Trade-Investment expo last week that his government was concentrating on bilateral trade agreements with neighbouring countries like Thailand and Vietnam.
Thailand's exports to Cambodia include petroleum, processed goods, cement, consumer products, construction materials, fruits, vegetables and cosmetics, while Cambodia ships agricultural products, second hand garments, recyclable metal and fish.
Rising exports from Cambodia to Thailand are following a similar trend overall. Cambodian exports to other countries jumped more than 20% in the first quarter of this year compared with the same period last year, according to the ministry.