Trade between Cambodia and Thailand reached $7 billion during the first nine months of the year, exceeding figures for the entire last year.
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The trade figures for the nine-month period reflect Cambodia and Thailand’s commitment to reach $15 billion in bilateral trade by 2020, said the Cambodian Minister of Commerce, Pan Sorasak.
Speaking at a meeting on Friday in the Thai Embassy in Phnom Penh to celebrate Thailand’s National Day, Mr Sorasak told Panyarak Poolthup, the Thai Ambassador, that significant progress has been attained in expanding trade and that the nations are on course to achieve $15 billion in bilateral trade by 2020.
“With the close relationship that Cambodia and Thailand enjoy in all aspects of government, our trade will continue to increase and we will reach our targets,” he said.
Mr Poolthup said that Thailand continues to improve procedures at the border between the countries to facilitate cross-border trade.
During the Joint Trade Commission between Cambodia and Thailand on February, both countries agreed to establish a working group to address trade issues. They believe the initiative will bolster commercial ties and help them achieve $15 billion in bilateral trade.
The new committee, composed of officials from the ministries of commerce of both nations, convenes every three months to discuss trade concerns and monitor the progress of initiatives.