After the visit of Thai Prime Minister Thaksin Siniwatra in Phnom Penh , government spokesman Khieu Kanharith says Thailand and Cambodia have agreed to form a joint committee to solve the dispute over the overlaping sea between Cambodia and Thailand that have pockets of oil.
Speaking to reporters in a news conference Thursday, Khieu Kanharith says Thaksin proposes to form three different zones: one near the Thai side, one in the middle of the sea, and one near the Cambodian side.
The Cambodian spokesman says for the middle zone the deal is to divide the oil revenue 50/50 between the two countries. Khieu Kanharith says the Thai prime minister believes Cambodia will receive about 2 billion dollars per year in oil revenues.
The government spokesman says the two countries can also use other alternatives to solve the overlapping zone.
According to the Cambodian spokesman, Prime Minister Thaksin proposes to end the discussion of the deal in 6 months and the committee also needs foreign experts.
Mrs. Chea Vannath former director of the Center for Social Development says she hopes Thailand is not going to take advantage of Cambodia which is weaker than Thailand.
The opposition party believes the deal should 50/50 for any zone.
Spokesman Khieu Kanharith says Cambodia and Thailand have also signed several other agreements during Thaksin’s one-day visit.