[INNEWS Comprehensive Report] On August 15, Cambodian Minister of Commerce Pan Sosak met with visiting Thai Chamber of Commerce representative Voratat Tantimongkolsuk and Thailand Investment Promotion Commission chief representative Audsitti Sroithong in Phnom Penh. The purpose of this meeting is to further strengthen and expand the friendly and cooperative relations between the two countries in various fields, and to promote the development of trade and investment.
Voratat Tantimongkolsuk said that Thai businessmen are paying attention to Cambodia’s main business potential and hope to learn more about Cambodia’s trade, investment and business partnerships through this visit.
The purpose of the Thai Chamber of Commerce delegation’s visit to Cambodia is to discuss how to further expand trade, investment and business cooperation on the existing basis to achieve mutual benefit and win-win results. Minister Pan Sosak said that Cambodia’s strong economic growth in recent years has attracted a large number of investors from all over the world, including China, Japan, South Korea, the United States, the United Kingdom, ASEAN member states and Thailand.
He welcomed the delegation of Thai entrepreneurs to come to Cambodia to explore business opportunities. This meeting will provide a good opportunity for the business communities and investment opportunities of the two countries to exchange views and promote trade and investment between the two countries. Pan Sosak added that the Cambodian side is willing to welcome Thai businessmen to invest in Cambodia to achieve mutual benefit and win-win results. At the same time, he also highlighted that Cambodia has signed bilateral free trade agreements with China, South Korea and the United Arab Emirates, which provide more tax incentives and convenience for potential investment opportunities for Thai businessmen investing in Cambodia.
According to relevant data, the bilateral trade volume between the two countries will exceed US$4.6 billion in 2022, of which Cambodia’s exports to Thailand will exceed US$409 million, and Thailand’s exports to Cambodia will be US$3.832 billion. In the first seven months of 2023, trade between Cambodia and Thailand exceeded US$2.2 billion, down 18.6 percent from US$2.7 billion in 2022.
During the meeting, the delegation will also go to Phnom Penh, Koh Kong Province and Sihanoukville Special Economic Zone for visits and business exchanges to further understand Cambodia’s business environment and investment opportunities. This visit will help promote trade and investment cooperation between the two countries, and play a positive role in promoting Cambodia’s economic development and deepening the friendly and cooperative relations between the two countries.