Developing trade ties with Cambodia

A seminar to develop import-export activities and investment between Vietnam’s south and southeast provinces and neighbouring Cambodia was held in Tay Ninh province on December 22.

Participants at the seminar said that businesses from both sides have not yet grasped the potential to promote exports so the event provided a good opportunity for them to exchange information, develop strategies and explore prospective markets.

The south and southeast region has 10 provinces, including 3 bordering with Cambodia – Tay Ninh, Long An and Binh Phuoc, as well as 4 international borders gates – Hoa Lu, Binh Hiep, Moc Bai and Xa Mat.

The south and southeast region has good infrastructure, such as airports, ports, comprehensive road, aviation and river systems and big industrial zones while Cambodia is an open market with great potential. In fact, some businesses in the south and southeast region have invested in Cambodia in rubber plantation, information, and banking.

Currently, two-way trade turnover between Vietnam and Cambodia increases by 30 percent annually. It reached US$1.33 billion in 2009 and is expected to hit US$1.7 billion in 2010. 62 percent of the value is the from south and southeast region. Vietnam mainly exports construction materials, electricity, electronics, cosmetics, food, wine, beer and beverages, while imports from Cambodia include agricultural products, rubber latex, and cassava starch.

Vietnamese businesses say that despite high growth, exports to Cambodia are still limited due to poor infrastructure in border areas, lack of commercial centres, storages, and showrooms, a weak payment system and lack of information about investment opportunities.

To boost exports to Cambodia, participants at the seminar agreed to resolve issues, such as increasing investment in infrastructure at border areas, advertising products on the mass media, organizing fairs and exhibitions in Cambodia, and establishing representative offices or branches in both countries.

Businesses from the two countries made a fact-finding tour of Moc Bai Border Gate in Vietnam and some economic zones in Cambodia. – VOV

Tags: Vietnam Cambodia trade

Posted by VBN on Dec 23 2010. Filed under Import-Export, Int'l Cooperation. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry