Thailand and Cambodia aim to increase their trade volume to $15 billion by 2025 while strengthening their strategic partnership. The two leaders also discussed enhancing medical and well-being tourism cooperation. #Thailand #Cambodia #TradeRelations #TourismCooperation #StrategicPartnership
Aiming for Higher Bilateral Trade
Thailand and Cambodia recently pledged to deepen their ties, targeting a bilateral trade volume of $15 billion (551 billion baht) by 2025. This decision came after a meeting between Thailand’s Prime Minister Srettha Thavisin and his Cambodian counterpart Hun Manet in Phnom Penh. The visit was part of a broader strategy to strengthen relations between the Association of Southeast Asian Nations (ASEAN) member countries.
Both leaders assumed office on August 22 and have expressed their commitment to steering their respective countries in similar directions. They emphasized their close relations and agreed on the importance of opening a new chapter in their partnership.
Enhanced Economic Cooperation
During their meeting, both prime ministers highlighted the necessity of upgrading their strategic partnership and focusing on the interests of their people. They agreed to promote further investment cooperation, develop cross-border areas, and encourage new economies based on innovative and cutting-edge technologies to boost growth.
They also discussed the importance of connecting their supply chains and promoting business matching, particularly among small and medium-sized entrepreneurs. Cooperation on the digital and green economies was another point of agreement between the leaders.
Improved Border Crossing Infrastructure
The development of Thailand-Cambodia border crossing points, rail transport, and border tourism were also discussed. The prime ministers considered introducing a temporary land transport border pass to facilitate travelers without passports.
The Thai-Cambodia Friendship Bridge, which connects Ban Nong Ian village in Sa Kaeo’s Aranyaprathet district with Satung Bot village in Poi Pet on the Cambodian side, should be opened for service as soon as possible to boost cross-border trade.
Medical and Well-being Tourism Cooperation
The Thai prime minister suggested enhancing medical and well-being tourism cooperation between the two countries. Addressing security issues, he proposed that Cambodia host the next meeting of the Joint Boundary Committee to upgrade border crossing points and boost cross-border trade. He also recommended that both countries increase de-mining efforts along their shared border.
Regular exchange visits between the security agencies of the two nations were encouraged to better tackle trans-border crime, call-center scams, and other illegal activities in border areas. Moreover, Mr. Srettha stressed the need for promoting human resource development and sustainable growth.
Combating Fake News
Thailand is ready to work closely with Cambodia to address the spread of fake news, which could cause misunderstandings between the people of both countries. Prime Minister Srettha expressed his gratitude for the warm welcome received during his visit to Cambodia.
Frequently Asked Questions
1. What is the targeted bilateral trade volume between Thailand and Cambodia by 2025?
Thailand and Cambodia aim to increase their bilateral trade volume to $15 billion by 2025 while strengthening their strategic partnership, focusing on the interests of their people, and enhancing economic cooperation.
2. What was discussed regarding the development of border crossing infrastructure?
The prime ministers of Thailand and Cambodia discussed the development of border crossing points, rail transport, and border tourism. They considered introducing a temporary land transport border pass to facilitate travelers without passports and emphasized the need to open the Thai-Cambodia Friendship Bridge as soon as possible to boost cross-border trade.
3. How do the two countries plan to enhance medical and well-being tourism cooperation?
To enhance medical and well-being tourism cooperation, the Thai prime minister suggested that Cambodia host the next Joint Boundary Committee meeting to upgrade border crossing points and boost cross-border trade. Both countries were encouraged to increase de-mining efforts along their shared border, and regular exchange visits between their security agencies were proposed to better tackle trans-border crime and other illegal activities in border areas.