Thailand and Cambodia to set up trade zone for cassava-corn trade
Thailand and Cambodia will establish a special trade zone for two major agricultural products, corn and cassava, produced in the two countries. (Image source: alternative heat/Flickr)Thailand and Cambodia have revealed plans to set up a special trade zone that will see the two neighbouring countries increase cassava and corn trade\
Thai commerce minister Boonsong Teriyapirom revealed recently that the fourth Thailand-Cambodia Joint Trade Committee meeting has seen both countries content with the expansion of cross-border trade.
Thailand and Cambodia have agreed to set an annual trade growth rate of 30 per cent between 2012 and 2015.
Last year, trade between both countries expanded by 40.5 per cent to US$4.03bn from US$2.86bn in 2011.
Boonsong stated Thailand and Cambodia will also set up a new joint working committee, tasked with the study of the establishment of a special trade zone for two major agricultural products, cassava and corn.
He said that study will cover the entire supply chain for both products and the proposal of the location of the special trade zone.
Meanwhile, Piramol Charoenpao, director general of the Department of Trade Negotiations, said that the commerce minister will soon travel to Bhutan to sign a trade cooperation agreement of the two countries.