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Trade hope as border gate opens - Khmer Times
KHMER TIMES/MAY KUNMAKARA TUESDAY, 10 JANUARY 2017 1095 VIEWS
Trade hope as border gate opens
Laos’ Champasak province in the lower Mekong basin shares a common border with Cambodia. KT/Sonny Inbaraj Krishnan
Cambodia-Laos’ Trapeang Kreal international border gate opens officially today in an effort to promote trade and tourism between the Asean neighbors.
Prime Minister Hun Sen and his counterpart Thongloun Sisoulith will preside over the ceremony, Cambodia’s Foreign Ministry said.
The crossing connects Cambodia’s Stung Treng province with Laos’ Champasak province.
Thonglien Sibounthien, managing director of Viengchampa Tour in the Laos city of Luang Phrabang, said yesterday that the opening of the border gate will not only facilitate tourism but also boost trade between the countries.
“Opening the border is really good and that is very important for both of us. It means better income,” he said.
However he added that poor roads were still a concern and visas are expensive, aspects which each country has to improve.
The opening of the gate comes more than six months after the state visit of the newly elected Lao’s prime minister to Cambodia in June.
At the time Mr. Sibounthien urged Cambodia to increase trade and investment in its northern neighbor because commerce between the two countries was small and there was ample room for expansion.
In Channy, president and group CEO of Acleda Bank which has invested in Laos since 2008, also welcomed the opening of the gate.
He said it would play a big role in promoting investment, trade and investment with Laos.
“I think it is good news for both countries because it will not only promote good cross-border transportation but also bring in more tourists. In addition, it will be easy for businesspeople from both countries to have more connections and investment expansion.”
According to Mr. Channy, Acleda Bank has been expanding its branches throughout Laos.
At the end of December, the bank’s outstanding loans reached $121 million and deposits were $86.6 million.
The bank’s assets reached $156 million and capital was $36.7 million.
“This year we don’t have plans to expand more branches as we almost cover all provinces,” said Mr. Channy.
He said Acleda would soon launch an electronic banking system in Laos.
“This facilitates financial transactions between Cambodia and Laos and people of both nations can use the same services.”
Visitors from Laos to Cambodia fell in the first 11 months of last year.
Numbers dropped more than 10 percent to 314,415 from 349,759 in the same period a year earlier but Laos was still number five in the list of international visitors to Cambodia, said the Tourism Ministry.
KHMER TIMES/MAY KUNMAKARA TUESDAY, 10 JANUARY 2017 1095 VIEWS
Trade hope as border gate opens
Laos’ Champasak province in the lower Mekong basin shares a common border with Cambodia. KT/Sonny Inbaraj Krishnan
Cambodia-Laos’ Trapeang Kreal international border gate opens officially today in an effort to promote trade and tourism between the Asean neighbors.
Prime Minister Hun Sen and his counterpart Thongloun Sisoulith will preside over the ceremony, Cambodia’s Foreign Ministry said.
The crossing connects Cambodia’s Stung Treng province with Laos’ Champasak province.
Thonglien Sibounthien, managing director of Viengchampa Tour in the Laos city of Luang Phrabang, said yesterday that the opening of the border gate will not only facilitate tourism but also boost trade between the countries.
“Opening the border is really good and that is very important for both of us. It means better income,” he said.
However he added that poor roads were still a concern and visas are expensive, aspects which each country has to improve.
The opening of the gate comes more than six months after the state visit of the newly elected Lao’s prime minister to Cambodia in June.
At the time Mr. Sibounthien urged Cambodia to increase trade and investment in its northern neighbor because commerce between the two countries was small and there was ample room for expansion.
In Channy, president and group CEO of Acleda Bank which has invested in Laos since 2008, also welcomed the opening of the gate.
He said it would play a big role in promoting investment, trade and investment with Laos.
“I think it is good news for both countries because it will not only promote good cross-border transportation but also bring in more tourists. In addition, it will be easy for businesspeople from both countries to have more connections and investment expansion.”
According to Mr. Channy, Acleda Bank has been expanding its branches throughout Laos.
At the end of December, the bank’s outstanding loans reached $121 million and deposits were $86.6 million.
The bank’s assets reached $156 million and capital was $36.7 million.
“This year we don’t have plans to expand more branches as we almost cover all provinces,” said Mr. Channy.
He said Acleda would soon launch an electronic banking system in Laos.
“This facilitates financial transactions between Cambodia and Laos and people of both nations can use the same services.”
Visitors from Laos to Cambodia fell in the first 11 months of last year.
Numbers dropped more than 10 percent to 314,415 from 349,759 in the same period a year earlier but Laos was still number five in the list of international visitors to Cambodia, said the Tourism Ministry.
