The National Assembly of Cambodia (NA) and the Royal Thai Embassy in Phnom Penh yesterday agreed to enhance cross-border commercial and investment activities, as well as improve transport infrastructure aimed at boosting bilateral trade volume to over $10 billion by the end of this year.
An agreement was reached during the meeting between Khuon Sudary, President of NA and Tull Traisorat, the newly appointed Thai Ambassador to Cambodia, in Phnom Penh.
Addressing the meeting, the NA President emphasised that strong political trust is essential for fostering peace, stability and shared prosperity.
Sudary stressed that all collaborative efforts must reflect the aspirations of citizens in both countries, underscoring the foundational importance of mutual trust.
The Ambassador conveyed that the legislative bodies of both countries have cultivated close collaboration within bilateral and multilateral frameworks, encompassing government-to-government and private sector initiatives.
He committed to further strengthening commercial, investment and people-to-people connections, asserting that the citizens form the bedrock of this relationship and that nurturing deeper bonds remains paramount.
He also highlighted the impressive surge in bilateral tourism facilitated by the ‘Two Kingdoms, One Destination’ and ‘Six Countries, One Destination’ frameworks, advocating for enhanced cross-border trade, investment and seamless connectivity across road, rail, sea, and air networks to invigorate commerce.
Traisorat expressed optimism about the expansion of Thailand’s investment in Cambodia, identifying Thai hotel chains and travel agencies as pivotal drivers of tourism growth.
He affirmed that new business ventures in Cambodia are poised to further solidify economic ties this year. Furthermore, he noted Thailand’s position as a leading source of foreign direct investment in Cambodia, ranking among the top five investors.
The Ambassador projected that bilateral trade volume is on track to exceed $10 billion this year, underscoring the strong economic interdependence that characterises the relationship between the two nations.
The NA President commended the Ambassador for his instrumental role in deepening bilateral ties amidst prevailing global economic uncertainties, stressing the imperative of regional integration and trade expansion to bolster economic resilience and unlock new avenues for mutual growth.
Sudary said, “Transforming our shared border regions into zones of enduring peace and stability was a central theme of our discussions, underscoring the significance of cross-border cooperation in critical areas such as labour, education, skill development, and healthcare to improve the citizens’ livelihood.
Recognising the pivotal role of human capital development, she emphasised that sustained investments in health and education are indispensable for cultivating a knowledgeable and skilled workforce, which will serve as a fundamental engine for long-term national progress and robust economic growth.
