Cambodia and Thailand Wednesday held talks on establishing special economic zones, enhancing people-to-people connections, promoting tourism, besides strengthening bilateral cooperation between the two countries.
Discussions on the key areas were held during a bilateral meeting between Prime Minister Hun Manet and Thai Prime Minister Paetongtarn Shinawatra on the sidelines of the 44th and 45th ASEAN Summits and related summits in Vientiane, Lao People’s Democratic Republic, said a release of the government Spokesperson’s Unit.
During the meeting, Prime Minister Paetongtarn expressed her gratitude to Mr Hun Manet for being the first to congratulate her when she was elected as Prime Minister. She noted the positive developments in relations and cooperation between the two countries following Mr Hun Manet’s official visit to Thailand in February 2024.
On his part, Mr Hun Manet appreciated the advancements in Cambodia-Thailand relations, which were elevated to a strategic partnership in 2024.
Both leaders called for resuming various bilateral mechanism meetings and studying the feasibility of establishing special economic zones, as well as enhancing cooperation in tourism, defence and security.
The two leaders tasked the foreign ministries of both countries to facilitate further discussions on these topics and organize activities celebrating the 75th anniversary of Cambodia-Thailand diplomatic relations in 2025.
Socio-economic analyst Chey Tech told Khmer Times on Thursday that these initiatives aim to strengthen bilateral cooperation, boost economic growth and promote cultural exchanges between the two countries.
He emphasized that creating additional special economic zones would foster a favorable investment environment by reducing trade barriers and streamlining customs procedures.
“Together, we can create a value chain that enhances competitiveness and access to major markets, attracting investors looking to expand their operations and reach new customers,” said Tech. He also noted that these developments could generate more jobs and improve local workforce skills, contributing to economic development and poverty reduction.
“The establishment of special economic zones will require significant infrastructure investments such as roads, railways and utilities benefiting both countries in the long term,” he added.
Speaking to Khmer Times on Thursday, Hong Vannak, an economic researcher at the Royal Academy of Cambodia (RAC), described the cooperation plan as a vital extension of past efforts.
He highlighted the longstanding relations between Cambodia and Thailand, particularly in border provinces and coastal areas including transferring of Cambodian workers to Thailand.
“The dialogue between the two Prime Ministers aims to enhance what has been accomplished over the years, making future collaborations even more effective,” he stated, adding, “If everything goes smoothly, we can expect more special economic zones, particularly in border regions, which will facilitate better cooperation and address tax evasion issues related to management, investment and tourism.”
It should be noted that bilateral trade between Cambodia and Thailand in 2023 reached more than $9 billion, and both countries would like to see this figure increase to $15 billion by 2025. Thailand is the sixth largest investor in Cambodia.
(Source: Khmertimeskh)