Cambodia & Thailand Pledge Joint Efforts to Boost Cross-Border Trade, Aiming for US$15bn by 2025

• 29 September 2023
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In a harmonious display of regional cooperation, Cambodia and Thailand have joined forces to tackle cross-border trade challenges with the ambitious goal of reaching a staggering US$15 billion in trade volume by 2025. This commitment underscores their shared dedication to advancing mutual prosperity and peace, as declared in a press release from the Ministry of Foreign Affairs and International Cooperation.

During a high-level meeting between Cambodia’s Prime Minister, Samdech Hun Manet, and his Thai counterpart, Prime Minister HE Setha Thavisin, the leaders reaffirmed the paramount importance of bolstering trade and investment ties between their nations.

A key focus of their discussions was the expeditious negotiation of a memorandum of understanding (MoU) concerning transit goods between Cambodia and Thailand. This MoU aims to iron out any lingering issues related to the transportation of goods originating from third countries, streamlining cross-border trade processes.

In a decisive move towards their US$15 billion trade target for 2025, both prime ministers have empowered relevant authorities to harness existing mechanisms effectively while exploring additional avenues to augment cross-border trade. This ambitious endeavour promises not only economic growth but also reinforces the enduring spirit of collaboration between these neighbouring nations.

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