Logo of Phnom Penh Post newspaper Phnom Penh Post - Cambodia, Laos set to boost bilateral trade

Cambodia, Laos set to boost bilateral trade

Content image - Phnom Penh Post
Dom Kralor International Border Checkpoint in Stung Treng province. Hong Menea

Cambodia, Laos set to boost bilateral trade

Cambodia and Laos have pledged to boost trade and investment across their border, while trade volume between the two countries last year was just over $27 million, according to the Cambodian Ministry of Commerce.

Ministry data show that bilateral trade between Cambodia and Laos last year was more than $27.25 million. The data did not show trade volumes in 2016 but showed that in 2015, Cambodia’s trade volume with Laos was worth $25.62 million.

Minister of Commerce, Pan Sorasak, who participated in the Lao-Cambodian Business Forum held in Vientiane on December 5, highlighted potential opportunities and Cambodian government policy to Lao investors.

“Cambodia’s open policy and investment protection policies are flexible and highly favourable to foreign direct investment, which will help them make long-term profits and also contribute to developing economic growth in Cambodia,” Sorasak said.

Only Laos

Among neighbouring countries, only Laos has a low trade exchange. Last year, the trade volume between Cambodia and Vietnam was valued at over $3.8 billion while the trade volume with Thailand was worth $6.16 billion.

Lao Minister of Industry and Commerce Khemmani Pholsena said Laos supports the promotion of trade activities between the two countries, urging Cambodia to encourage the Cambodian private sector to invest in Laos.

Cambodia Chamber of Commerce vice-president Lim Heng said that for a short time, the trade volume between Cambodia and Laos would not be increased much, but it could change after completion of a cross-border bridge linking Preah Vihear province to Champasak province of Laos.

According to the plan, Cambodia and Laos will build the bridge to cross the river to facilitate travelling and the transportation of goods between the two countries, Heng said.

“When there is a bridge, Laos can use the seaport in Preah Sihanouk province to transport its goods to international markets.” I think that trade growth between the two countries will increase.”

Heng said there are Cambodian companies and nationals currently investing in the Lao financial and hotel sectors, while Lao investors come to Cambodia mostly to sell electricity only to neighbouring areas.

The Ministry of Tourism’s 2017 annual report showed that Lao tourists to Cambodia stood in third place with more than 500,000 visitors. The report shows that in the first six months of this year, Cambodia saw over 200,000 Lao visitors.

MOST VIEWED

  • Man arrested for fake PM endorsement

    The owner of currency exchange company GCG Asia Co Ltd was temporarily detained by the court yesterday for attempted fraud after Prime Minister Hun Sen reacted to the company using his name and pictures to allege his endorsement of the firm. Phnom Penh Municipal Court

  • Archeologists find ancient phallic statue

    An archeological team has found a metre-long tipless stone linga (penis) of the Hindu deity Shiva in the foundations of a temple in Kratie province’s historical Samphu Borak area, a former capital of the pre-Angkor Empire Chenla period. Thuy Chanthourn, the deputy director of

  • Sihanoukville authority orders structure dismantled

    The Preah Sihanouk provincial administration has ordered owners of two unauthorised construction sites to immediately dismantle them and warned of legal action if the owners failed to comply. Ly Chet Niyom, development management and construction bureau chief at the provincial hall, told The Post on

  • Police seek arrest of Chinese ‘gang’

    Cambodian police remain on the lookout for 20 Chinese nationals who earlier this month posted a video clip threatening to stoke insecurity in Preah Sihanouk province, though the Chinese Embassy in Phnom Penh maintained the group posed no threats to Cambodia’s national security. National Police