Wednesday, 16 January 2008

Vietnam & Cambodia Aim to Intensify Cross-Border Trade

Wednesday January 16,

AN GIANG, Jan 16 Asia Pulse - The Vietnamese Ministry of Industry and Trade and the Cambodian Trade Ministry signed a memorandum of understanding (MoU) on boosting cross-border trade at a conference held in the Mekong delta province of An Giang on January 15.

At the conference, which focused on cross-border trade between the two countries in 2008 and the following years, Vietnamese delegates suggested increasing exchange of delegations at all levels, developing infrastructure for border areas and building a system of border markets and economic zones. In addition, simplification of tariff procedures at border gates, markets and economic zones are needed to boost trade, they stressed.

During recent years, trade over the Vietnam-Cambodia border lines has been brisk, with turnover growing at an average 30.82 per cent each year.

In the 2001-2007 period, total cross-border trade turnover between the two countries was over US$3.06 billion, of which Vietnam exported US$2.83 billion worth of goods to Cambodia and imported US$228.6 million.

The two countries aim to increase two-way trade turnover by 27 per cent every year to reach US$2.3 billion in 2010 and US$6.5 billion in 2015.


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