Thailand and Cambodia agreed to further dialogues regarding mutual exploitation of hydrocarbon sources in Overlapping Claim Area (OCA)which is located in Gulf of Thailandterritory claimed by both nations.
This was discussed during a recent meeting between Thai Prime Minister Srettha Thavisin and Cambodian leader Hun Manet, as they aimed to improve cooperation for energy security of both countries.
Spread over a vast area of 26,000 square kilometers, the OCA is speculated to be rich in fossil fuel resources. Despite numerous discussions over the years on the joint development of these energy resources, no significant progress has been made due to territorial disputes over the maritime area within the OCA.
In a press briefing after the meeting, Prime Minister Srettha indicated that both sides agreed to improve cooperation in energy security and continue talks on joint exploitation of hydrocarbon resources in the OCA. At the same time, the delimitation of sea borders will be discussed, which is important for both Bangkok and Phnom Penh.
“The Ministry of Foreign Affairs has been instructed to consult with authorities, including the Ministry of Energy and the Royal Thai Navy, on the matter for further discussion with the Cambodian side.”
Earlier this year, the 61-year-old Thai prime minister mentioned ongoing negotiations with Cambodia regarding the OCA during a debate on the draft budget. He was optimistic about reaching a fruitful agreement.
“We are sitting on a treasure worth a trillion.”
Mutual interests
The meeting was comprehensive, covering areas of mutual interest beyond the development of fossil fuel sources. Bilateral trade, border development, tourism and haze pollution were also discussed, with the intention of strengthening cooperation.
In an attempt to boost bilateral trade, Thailand will host the 7th Joint Trade Committee, with discussions aimed at increasing the volume of bilateral trade to USD 15 billion (approximately 53 billion baht) by 2025. Prime Minister Srettha also hopes that the Memorandum of Understanding ( MoU) on goods in transit, which was recently signed, will increase the volume of trade, especially border trade.
Tourism cooperation between the two countries will be enhanced to facilitate cross-border travel and promote popular destinations in both countries. The Bangkok-born prime minister revealed that 1.8 million Thais visited Cambodia last year, making them the largest number of visitors to the country, while Thailand is a favorite destination for Cambodians.
“We will join hands in the ‘Six countries, one destination’ campaign to promote regional tourism. If Europe can do it, why can’t we?”
Faced with cross-border haze pollution, both countries will intensify cooperation to ensure clean air for their citizens. Cambodia has been invited to participate in the CLEAR Sky strategy along with Thailand, Laos and Myanmar, they reported Bangkok Post.
A joint working group will be established to delineate cooperation, which includes the establishment of a hotline for hotline information and alerts, emergency response and capacity building, as well as the exchange of best practices.
The meeting also discussed issues such as the development of border areas, demining, fair treatment of Cambodian workers, enhanced security cooperation and the fight against transnational crime. Furthermore, as the 75th anniversary of the establishment of diplomatic relations between Thailand and Cambodia approaches, a number of activities are planned to deepen friendship and understanding between the citizens of both nations.
Political News Thailand News World News