By Petchanet Pratruangkrai
The Nation
Published on October 17, 2008
Trade between Thailand
Trade between Thailand and Cambodia could take a hit as a result of a protracted military conflict between the two countries, according to the Thai Chamber of Commerce (TCC).
Economic and business opportunity losses could amount to Bt10 billion, as bilateral trade is forecast to plunge from Bt60 billion to just Bt50 billion for this year.
Last year's two-way trade value was Bt48.4 billion, with the balance hugely in Thailand's favour.
Thai exports totalled Bt47 billion, while Cambodian exports to Thailand were only about Bt1.3 billion.
Niyom Waiyawatchapanich, chairman of the TCC's Neighbouring Countries Trade Promotion Committee, said the ongoing conflict had especially hurt Thai exporters.
"On average, we could lose Bt100 million per day in trade value if gateways for cross-border trade were shut down," said Niyom, adding that 70 per cent of the bilateral trade is currently generated by cross-border merchants.
Niyom said Thai businessmen hoped the conflict would end soon to avoid serious impact on trade and investment.
So far, bilateral cooperation has also been delayed by the conflict, with plans for a five-year joint tourism development programme and single visas for visitors to both Thai and Cambodian destinations put on hold.
Moreover, Thai investors, who have contract farming businesses in Cambodia, have lost Bt300 million-Bt400 million in revenue due to the military conflict as they cannot transport farm output to Thailand.
Thanavath Phonvichai, director of the University of Thai Chamber of Commerce's Economic and Business Forecasting Centre, is optimistic that the border situation should return to normal soon.
He said Cambodia relied on imports of several essential products from Thailand, including refined petroleum products, construction materials, food and beverages, sugar, and consumer goods.
The TCC, meanwhile, will also hold a meeting with representatives of the business community in five border provinces on Monday to assess economic and business impacts resulting from the military conflict.
The Nation
Published on October 17, 2008
Trade between Thailand
Trade between Thailand and Cambodia could take a hit as a result of a protracted military conflict between the two countries, according to the Thai Chamber of Commerce (TCC).
Economic and business opportunity losses could amount to Bt10 billion, as bilateral trade is forecast to plunge from Bt60 billion to just Bt50 billion for this year.
Last year's two-way trade value was Bt48.4 billion, with the balance hugely in Thailand's favour.
Thai exports totalled Bt47 billion, while Cambodian exports to Thailand were only about Bt1.3 billion.
Niyom Waiyawatchapanich, chairman of the TCC's Neighbouring Countries Trade Promotion Committee, said the ongoing conflict had especially hurt Thai exporters.
"On average, we could lose Bt100 million per day in trade value if gateways for cross-border trade were shut down," said Niyom, adding that 70 per cent of the bilateral trade is currently generated by cross-border merchants.
Niyom said Thai businessmen hoped the conflict would end soon to avoid serious impact on trade and investment.
So far, bilateral cooperation has also been delayed by the conflict, with plans for a five-year joint tourism development programme and single visas for visitors to both Thai and Cambodian destinations put on hold.
Moreover, Thai investors, who have contract farming businesses in Cambodia, have lost Bt300 million-Bt400 million in revenue due to the military conflict as they cannot transport farm output to Thailand.
Thanavath Phonvichai, director of the University of Thai Chamber of Commerce's Economic and Business Forecasting Centre, is optimistic that the border situation should return to normal soon.
He said Cambodia relied on imports of several essential products from Thailand, including refined petroleum products, construction materials, food and beverages, sugar, and consumer goods.
The TCC, meanwhile, will also hold a meeting with representatives of the business community in five border provinces on Monday to assess economic and business impacts resulting from the military conflict.
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