Business

Logistics project hoped to spur border trade

Border trade is standing numerous opportunities to develop as Vietnam and neighboring countries have completed the demarcation of their land border.
Logistics project hoped to spur border trade ảnh 1Illustrative image (Source: VNA)
Hanoi (VNA) – Border trade is standingnumerous opportunities to develop as Vietnam and neighboring countries havecompleted the demarcation of their land border.

In addition, the Ministryof Industry and Trade has recently approved a project to develop warehouses atborder gates of Vietnam - Laos and Vietnam – Cambodia through 2025, with avision towards 2035, which is expected to be a driving force for cross-bordertrade in the coming time.

According to the central steering committee forborder trade, Vietnam shares about 4,600 km of land border with China, Laos andCambodia. Along the entire border line there are 23 international border gates,27 main border gates and 65 auxiliary ones, not to mention unofficial crossings.

Cross-border trade revenue makes up a largeproportion of the total trade between Vietnam and its neighbours.

For instance, border trade accounts for 30percent of the total trade between Vietnam and China every year.

Deputy Director General of the Mountainous andFrontier Trade Department under the Ministry of Industry and Trade Le BienCuong said there are 285 markets along the border line or at border gates and insideborder gate economic zones.

Many underdeveloped localities have transformedinto dynamic trade centres thanks to border gate economic zones.

Cuong, however, pointed out shortcomings in themanagement of border trade, including the inflexible trade policies and poorinfrastructure.

Furthermore, the logistics systems at theVietnam – Laos and Vietnam – Cambodia border gates are at small scale, hence,businesses have to sign contracts with different partners, causing waste anddifficulties in establishing long-term relations in the supply chain.

The border gate warehouse project, hence, isexpected to help spur trade activities across the Vietnam – Laos and Vietnam –Cambodia border.

Along the borders of Vietnam – Laos and Vietnam– Cambodia, there are 19 border gate economic zones, 18 international bordergates, 20 main border gates, and 43 auxiliary border gates.-VNA


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