A gathering of business leaders that seeks to enhance trade ties between Thailand and Cambodia is scheduled to be held this week in Phnom Penh.
The Thailand Cambodia Business Forum 2020 will be held on Jan 16 at Rosewood Hotel, according to a post in the official Facebook page of the Cambodian Business and Franchise Association (CamBFA).
“Cambodian Business and Franchise Association is honored to invite all members to attend the Business Forum 2020 between Cambodia and Thailand,” the post read. The Thailand Convention and Exhibition Bureau (TCEB) is spearheading the event.
CamBFA, which was formed last year, is a non-profit organisation that seeks to promote small and medium enterprises (SMEs) and entrepreneurship through franchising and matching franchisor to franchisee. The group counts more than 80 members engaged in real estate, construction, startups and other businesses.
Created by a royal decree in 2002, the TCEB has a mission to promote Thailand as a destination for meetings, incentives, conferencing and exhibitions.
The announcement said that Thailand Ambassador to Cambodia Panyarak Poolthup will be the guest of honor and will deliver the opening remarks.
Presentations about business opportunities in Cambodia and Thailand will be delivered by Kanokporn Damrongkul, director of Exhibition Department at TCEB, and representatives from the Cambodian Government and CamBFA.
Representatives from Thai and Cambodian businesses are expected to grace the occasion. According to an official of CamBFA, four or five of their members will be among the attendees.
Frederic Chan, chief investment officer at WS Asia Pacific, said such gatherings are good for both countries, noting that it will link entrepreneurs, SMEs, big companies and other stakeholders in the trade sector.
“This is a tremendous opportunity for Thailand and Cambodia to work together to improve and develop their economies,” he said.
A similar event in June 2019 drew more than 40 companies from Thailand that were seeking investment opportunities in Cambodia.
The holding of the event comes as Thai investors are preparing to expand their network across Indochina and South Asia with the help of the Thai Government. According to Thai media reports, the Thailand Overseas Investment Support Centre will launch in March a training course intended to help Thai investors as they seek more investment opportunities in Cambodia, Vietnam, Laos, Myanmar, Indonesia, India, Bangladesh and Sri Lanka.
Thailand has substantial investments in the Kingdom and is among Cambodia’s biggest trade partners.
The Thai Business Council of Cambodia reported that bilateral trade between the two countries reached $4.1 billion in the first half of 2019. Both countries are aiming to increase that amount to $15 billion by the end of 2020.