Cambodia, Thailand sign MoU on logistics cooperation

24 Jul '22

2 min read

Pic: Shutterstock

Thailand and Cambodia recently signed a memorandum of understanding (MoU) in Bangkok on logistics cooperation. Both sides will work on three areas: logistics policy and legal framework; logistics cost per gross domestic product (GDP) and logistics performance index (LPI); and strengthen institutional and stakeholder capacity in logistics.

The MoU was signed by Koy Sodany, secretary of state for ministry of public works and transport (MPWT) of Cambodia, and Danucha Pichayanan, secretary general of National Economic and Social Development Council of Thailand.

Sodany told the Thai side about the MPWT’s attention and efforts to draft a master plan on multipurpose transport connectivity and logistics in Cambodia.

The master plan includes hard and soft infrastructure development projects like projects of road, railway, expressway, waterway, maritime road, port, airport and logistics infrastructure development, and needs around $50 billion over a ten-year period, according to Cambodian media reports.

Bilateral trade between both sides rose by 22.8 per cent to $2.297 billion in the first half (H1) of this year from a year ago, according to Cambodia’s general department of customs and excise.

Cambodia’s exports to Thailand grew by 36.7 per cent year on year to $495.778 million, while imports climbed by 19.5 per cent to $1.801 billion. The country’s trade deficit with Thailand for H1 2022 stood at $1.306 billion, expanding by 14 per cent on a yearly basis.

Fibre2Fashion News Desk (DS)

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