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Cambodian Q1 (Quarter 1, 2012) Exports to Thailand Soar

Cambodia’s exports to Thailand jumped 55 percent year on year in the first quarter of 2012 on what experts and official said was a smoother political relationship between the countries, as well as an easing of Thai border regulations.

The kingdom shipped US$85.4 million in agricultural products, recycled metal and fish to the western neighbor, data from the Thai Embassy’s Foreign Trade Promotion Office to Phnom Penh showed.

On par were increases in imports from Thailand, which dominated the bilateral trade relationship.

Worth $1.05 billion, imports of petroleum, processed goods, cement and consumer products from Thailand increased 58.4 percent during the same period.

“Now Cambodia’s economy is doing well and Thailand’s economy is improving. But more important is that the political relationship between the two countries is improving,” Jiranan Wongmongkol, an official at the trade promotion office, said yesterday.

Trade, particularly energy exports to Thailand, were set to increase during the next three years. The completion of a $3 billion coal-fired power station in Koh Kong province, a joint venture between Cambodian tycoon Ly Yong Phat and Thailand’s Ratchaburi Electricity Generating Plc, would see Cambodia’s first energy exports.

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