Despite the new Thai customs law having come into effect yesterday, the transport of goods by land to or from third countries along the Cambodia-Thailand border will continue as usual, according to a recent government statement.
The General Department of Customs and Excise (GDCE) announced yesterday that the memorandum of understanding (MoU) with Thailand on cross-border trade, which seeks to comply with Thailand’s new customs law and set new rules and procedures for the transportation of goods across the border, have failed to materialise by the proposed deadline of November 13.
“The contents of the MoU have been discussed and agreed by both parties, but Thailand needs more time to work on internal procedures before it can sign the agreement,” the GDCE’s statement reads.
However, the GDCE said in its announcement that export/import procedures at the border will remain unchanged, reassuring investors and transport companies that it will be business as usual when they transport goods across the border, at least until further notice is given by Thai customs authorities.
Sin Chanthy, the president of the Cambodia Freight Forwarders Association, told Khmer Times this was good news for the sector.
“It is good for all businesspeople as we can continue to do our work as usual. We are working closely with Cambodian customs officials to push the MoU with Thailand,” Mr Chanthy said.
Bilateral trade between Cambodia and Thailand reached $5.6 billion in 2016, a rise of $100 million year-on-year. Thailand’s exports to Cambodia last year were worth $4.7 billion, while Cambodia’s exports to Thailand were valued at $937 million.