By Petchanet Pratruangkrai
The Nation
Thailand will forge closer ties with Cambodia and other neighbouring countries to increase competency in rice trading and boost the bargaining power of Asean countries by setting up a rice-trading zone soon.
Also, Thailand will expand crop cooperation to cassava to raise farm incomes in the region.
Commerce Minister Boonsong Teriyapirom said yesterday that Thailand
would strengthen cooperation with Cambodia in the trading of rice and
other crops such as cassava to ensure stable cereal prices and promote
more trading of Asean crops in the world market.
The proposal will be discussed during the fourth Joint Trade Commission
(JTC) meeting in Phnom Penh on Sunday and Monday. Boonsong will lead
Thai officials to the meeting with Cambodian Commerce Minister Cham
Prasith to discuss closer cooperation in trade, economics and
investment, as well as ways to break down trade barriers.
Boonsong will discuss with his counterpart how to ensure sustainability
to strengthen cooperation in the rice-farming industry and boost farmer
incomes by setting up a free-trade zone for rice. Thailand will help
Cambodia develop its rice-polishing capability as this country is more
advanced in polishing, milling and exporting the grain.
The cooperation will help prevent the smuggling of cheaper rice from
Cambodia to pledge to the Thai government under the price-support
scheme. Cambodia enjoys lower costs of production.
Thailand has also asked for closer cooperation with Myanmar on the issue of a rice-trading zone.
Thailand will help Cambodia promote its cassava under the same concept
of rice trading. it will help encourage more trading of cereals, such as
cassava and maize, by promoting contract farming to ensure stable
incomes for farmers.
The JTC will discuss a strategy to promote bilateral trade with an
emphasis on cross-border shipments, which account for 65 per cent of
two-way trade value.
Cambodia is the eighth-largest trading partner of Thailand in Asean and its No 26 trading partner of the world.
Last year, two-way trade was valued at US$4.03 billion (Bt116 billion),
or 0.84 per cent of Thailand's total trade. Exports to Cambodia were
worth $3.78 billion against only $249.5 million for imports from that
country.
Thailand will seek more trade and investment opportunities with
Cambodia, which can supply plentiful labour and natural resources and
can act as a bridge to Vietnam, Boonsong said.
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