(Posted by CAAI News Media)
Phnom Penh, Oct 17 (VNA) – Cambodia is expected to export 1,000 tonnes of cotton to Vietnam by the end of this year, said executive in the industry.
Kong Chan, Managing Director of Cambodia’s Seladamex Co., Ltd, said his company is working with its Vietnamese partners to seek a consensus for the trading and if successful, this will be Cambodia’s largest contract to export cotton since 1970, marking a milestone for the development of the cotton industry in Cambodia.
Cotton-growing areas have been narrowed in Cambodia since 1979 due to low selling price and difficulties in finding markets.
According to statistics released by the Vietnam Chamber of Commerce and Industry in Cambodia, trade between Vietnam and Cambodia had by the end of August reached 848 million USD, down 29.2 percent from a year ago. Of which, 726 million USD were Vietnam’s exports to Cambodia.
Cambodian economists said that despite the downturn this year, two-way trade is expected to increase strongly by 2010 to reach 2 billion USD as Cambodia’s economy will rebound next year.(VNA)
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