Nine Thai plastic converters yesterday convened in Phnom Penh to explore business opportunities in the Kingdom and find local partners, in a business matching event that boasted the involvement of the PTT Group’s petrochemical arm.
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The event, jointly organised by the Cambodia Chamber of Commerce (CCC) and Thailand’s PTT Global Chemical, seeks to promote partnerships between Thai and Cambodian firms to invest in plastic manufacturing factories in the Kingdom.
Pratit Lohateerapap, vice president of PTT Global Chemical, said demand for plastic products in Cambodia is growing at breakneck velocity, and that Thai companies are eager to share their experience in plastic manufacturing with local firms.
“We realised that the consumption of plastic products in Cambodia has skyrocketed. In Thailand, we have experienced plastic converters and we know that Cambodia can benefit from our expertise,” Mr Lohateerapap said.
“We are not just looking to sell: we also want to start collaborations,” he said.
“We hope Thai and Cambodian firms can work together to meet local demand for plastic products,” he said, adding that food packaging is an area with particularly strong potential.
Thailand-Cambodia joint ventures investing in the plastic sector will reduce imports, said Nguon Meng Tech, CCC’s director-general.
“The Cambodian government aims to eliminate imports of plastic bags, while Thai firms want to invest in Cambodia to manufacture plastic products here so we don’t have to import,” Mr Meng Tech said. “Their goals are aligned, so this type of investment is very welcomed.”
Last year, trade between Thailand and Cambodia was valued at $6 billion, 10 percent higher than the year before. Cambodian exports to its neighbour were worth $900 million.