Thai-Cambodia trade increases 40%
Trade between Thailand and Cambodia rose 40 per cent during the first nine months of 2012 compared to the same period in 2011, figures released by the Royal Embassy of Thailand in Cambodia have shown.
Key factors to this boost in bilateral trade include increased consumption due to the ASEAN Summit scheduled to be held in Phnom Penh from November 15 to 20, an increase in Thai tourists and the rising fortunes of both economies, a counselor at the Thai embassy was quoted as saying in the Phnom Penh Post.
Economic land concessions in Cambodia have also driven up demand for agricultural machinery and vehicles, such as heavy-duty tractors, bulldozers and other agricultural equipment, according to a representative of the Thai Business Council of Cambodia.
Cambodia’s economy has been growing across multiple sectors, including agriculture, real estate, garments and tourism.
Phnom Penh, Cambodia’s capital and largest city, is experiencing a building boom, with 200 new buildings over 10 floors gaining construction approval last year, along with the 39-story Vattanac Capital Tower, which will be the tallest in the country once completed.
This boom in construction and all-around increase in demand across sectors has since lead to greater imports of building materials, food, goods, and fuel and energy, which Thailand being one of the major exports to Cambodia.
Airport investment
Cambodian airports will receive $400 million in investment over the next eight years, Airport World, a trade magazine, has reported.
The funds will go into upgrades projects for Siem Reap’s airport, the extension of the international terminal at Phnom Penh’s airport and improvements of the Sihanoukville airport, the report mentioned.
“[The investments] will be incurred by Cambodia Airports, a company 70 per cent owned by France’s VINCI Airports and 30 per cent by Muhibbah Masteron Cambodia, a Malaysian-Cambodian joint venture,” Norinda Khek, communications and PR director at Phnom Penh International Airport, told the Phnom Penh Post.
The new infrastructure is hoped to handle the projected increase in foreign tourists to come, especially from within the ASEAN community.
Three international airlines are scheduled to launch direct flights from Myanmar to Cambodia soon, according to a report released on November 7 by Cambodia Airports, the developer and operator of the country’s international airports.
The new airlines are Condor Air of Germany, Qatar Airways and Lao Central Airlines.
[caption id="attachment_5252" align="alignleft" width="166"] The Vattanac Tower, symbol of Cambodia's attractiveness for investors, will be the tallest structure in the country when finished. Picture © Arno Maierbrugger[/caption] Trade between Thailand and Cambodia rose 40 per cent during the first nine months of 2012 compared to the same period in 2011, figures released by the Royal Embassy of Thailand in Cambodia have shown. Key factors to this boost in bilateral trade include increased consumption due to the ASEAN Summit scheduled to be held in Phnom Penh from November 15 to 20, an increase in Thai tourists and the rising fortunes of...
Trade between Thailand and Cambodia rose 40 per cent during the first nine months of 2012 compared to the same period in 2011, figures released by the Royal Embassy of Thailand in Cambodia have shown.
Key factors to this boost in bilateral trade include increased consumption due to the ASEAN Summit scheduled to be held in Phnom Penh from November 15 to 20, an increase in Thai tourists and the rising fortunes of both economies, a counselor at the Thai embassy was quoted as saying in the Phnom Penh Post.
Economic land concessions in Cambodia have also driven up demand for agricultural machinery and vehicles, such as heavy-duty tractors, bulldozers and other agricultural equipment, according to a representative of the Thai Business Council of Cambodia.
Cambodia’s economy has been growing across multiple sectors, including agriculture, real estate, garments and tourism.
Phnom Penh, Cambodia’s capital and largest city, is experiencing a building boom, with 200 new buildings over 10 floors gaining construction approval last year, along with the 39-story Vattanac Capital Tower, which will be the tallest in the country once completed.
This boom in construction and all-around increase in demand across sectors has since lead to greater imports of building materials, food, goods, and fuel and energy, which Thailand being one of the major exports to Cambodia.
Airport investment
Cambodian airports will receive $400 million in investment over the next eight years, Airport World, a trade magazine, has reported.
The funds will go into upgrades projects for Siem Reap’s airport, the extension of the international terminal at Phnom Penh’s airport and improvements of the Sihanoukville airport, the report mentioned.
“[The investments] will be incurred by Cambodia Airports, a company 70 per cent owned by France’s VINCI Airports and 30 per cent by Muhibbah Masteron Cambodia, a Malaysian-Cambodian joint venture,” Norinda Khek, communications and PR director at Phnom Penh International Airport, told the Phnom Penh Post.
The new infrastructure is hoped to handle the projected increase in foreign tourists to come, especially from within the ASEAN community.
Three international airlines are scheduled to launch direct flights from Myanmar to Cambodia soon, according to a report released on November 7 by Cambodia Airports, the developer and operator of the country’s international airports.
The new airlines are Condor Air of Germany, Qatar Airways and Lao Central Airlines.
