Thaksin issue: Thailand cancels MoU with Cambodia
Published on: November 09, 2009 at 14:40
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In a statement issued here Thailand foreign minister Kasit Piromya said, "We cannot negotiate any more based on this MoU as it will affect our economy and security".
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The MoU was signed in June, 2001, when Thaksin Shinawatra was the Prime Minister.
Tension between the two neighbours rose Thursday when Bangkok recalled its ambassador to Phnom Penh in retaliation over Cambodia's decision to appoint the fugitive Thaksin as its economic advisor.
Under the agreement signed in 2001, Thailand and Cambodia, which share 26,000 square kilometres of overlapping area, agreed to delimit and develop as a joint development area for oil and gas exploration.
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The government is said to be considering a regulation which would make it mandatory for all oil companies to sell diesel with 20% blend of bio-diesel for retail market by the year 2017. But looking at the pace of development on the R&D and investment front, only a marginal part of the fixed percentage seems to be achievable. The blame goes to sluggish approach of the government to attract required investments for projects. 
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