Trade of auto parts and accessories between Cambodia and Thailand was worth $488 million in 2017, according to data from Thailand’s Department of International Trade Promotion (DITP).
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Speaking at a press conference, Jirawuth Suwanna-Arj, minister counsellor of commercial affairs at the Thai embassy in Phnom Penh, said Cambodia imported more than $200 million in auto parts and accessories, and exported the same amount to Thailand.
“Cambodia imported parts to supply garages, while Thailand imported auto parts and accessories from Cambodia to use in car factories in Thailand,” Mr Jirawuth said.
The counsellor said demand for auto parts and accessories in Thailand has increased significantly in recent years.
He said many Thai companies are interested in investing in factories in Cambodia because labour costs in the kingdom are substantially lower than in their own country.
In April, Bangkok will hold TAPA 2018, an exhibition of auto parts and accessories organised to showcase Thailand’s potential in the industry.
During the three-day event, automobile manufacturers from all over the world will have their latest creations on display.
The event will feature 500 companies, including manufacturers, exporters, distributors and sub-contractors from Thailand, Taiwan, Vietnam, Japan, Malaysia, Singapore, Indonesia, Italy, Germany, China, South America and Russia.
The products on display will include auto parts, lubricants, maintenance products, tools, IT management systems, as well as the latest car models.
“We also encourage Cambodian businesspeople to explore this expo in order to seek and expand business collaboration and networking among manufacturers and buyers,” Mr Jirawuth said.
“This is a great opportunity for Cambodian companies to showcase their potential in the sector to potential business partners from all over the world,” Mr Jirawuth told reporters.