Cambodia and Thailand have reaffirmed their commitment to strengthening economic ties, setting an ambitious bilateral trade target of $15 billion by 2027, according to a press release issued by the Kingdom’s Ministry of Foreign Affairs and International Cooperation (MFAIC) on Sunday.
The announcement followed a bilateral meeting between Prak Sokhonn, Deputy Prime Minister and Minister of Foreign Affairs and International Cooperation and Thai Foreign Affairs Minister Maris Sangiampongsa on the sidelines of the ‘Extended Informal Consultation on the Implementation of the Five-Point Consensus’ in the lead-up to Asean Summit in Kuala Lumpur, Malaysia.
“The two foreign ministers exchanged views alongside in-depth discussions on potential areas of cooperation including the bilateral trade target of $15 billion in 2027, the promotion of tourism, agriculture, cultural cooperation, the establishment of Special Economic Zones (SEZs) along the borders, and jointly addressing and collaborating on non-traditional security issues,” the MFAIC stated.
The agreement to elevate trade ties reflects the growing economic interdependence between the two neighbouring countries. Cross-border trade, particularly through border Special Economic Zones, is expected to play a critical role in achieving the trade target.
The two ministers discussed strategies to enhance trade facilitation and logistics infrastructure. One of the highlights is the upcoming inauguration of the Cambodian-Thai Friendship Bridge, officially known as the Stung Bot-Ban Nong Ian Bridge, a vital infrastructure project expected to boost the flow of goods and people across the border.
A trade target of $15 billion between Cambodia and Thailand is within reach if both sides work to add value to their cross-border exchanges, particularly in agriculture, said a leading policy analyst.
Seun Sam, a policy analyst at the Royal Academy of Cambodia, told Khmer Times that the goal is realistic, especially when considering the economic contributions from provinces along the border, including Battambang, Banteay Meanchey, and Poipet.
“Nearly 100 percent of Cambodian agricultural products—including rice, corn, and other crops—are sold raw and unprocessed to the Thai market,” he said. “Thailand remains the primary buyer of these goods across the border.”
“At the same time, many products on Cambodian supermarket shelves—including in outlets such as Makro and PTT—are imported from Thailand, highlighting the depth of trade integration between the two neighbours.
“The trade relationship between Cambodia and Thailand is significant and should not be overlooked,” he said. “Reaching the $15 billion trade target is possible, but it requires innovation and investment in value-added processing within Cambodia.”
Rather than exporting raw agricultural goods, Cambodia should prioritize local processing to improve product value, extend shelf life, and create employment opportunities for its population, he added.
Sam also pointed to the current trade limitations imposed by Thailand as an obstacle. “At present, Thailand uses a quota system and imports from Cambodia only when it cannot meet domestic demand. Once Thailand’s needs are met, imports are often restricted.”
He noted that removing such trade barriers—particularly for rice, cassava, and corn—would further facilitate the bilateral trade goal.
The two governments have expressed commitment to boosting trade and economic cooperation, with several initiatives under discussion to ease cross-border flows and improve logistics infrastructure.
Trade between Cambodia and Thailand reached $1.49 billion during the first four months of the year, marking a 6.4 percent increase compared to the same period last year, according to a recent report by Cambodia’s General Department of Customs and Excise.
From January to April, Cambodia’s exports to Thailand totalled $327.78 million, representing a 2.9 percent decline from $337.59 million in the same period of the previous year.
Conversely, Cambodian imports from Thailand rose by 9.4 percent to $1.16 billion, up from $1.06 billion.
Cambodia’s key exports to Thailand include textiles, agricultural produce, gems, raw materials, and semi-processed goods. On the other hand, imports from Thailand mainly consist of fish, meat, vegetables, vehicles, organic fertilizers, food products, and construction materials.
