Vietnam, Cambodia strengthen cross border trade
The event aims to review the results of cooperation in cross border
trade between the two countries, and propose important orientations and
measures to exploit the border area’s potential.
According to Minister of Industry and Trade Vu Huy Hoang, bilateral
economic and trade relations have developed in recent years. Customs
statistics showed that two-way trade turnover reached 2.83 billion USD
in 2011, a year-on-year increase of 55 percent. The figure for 2012 is
estimated to exceed three billion USD.
At the
conference, the two ministries agreed to coordinate the development of
the border market system, continue building preferential policies and
mechanisms for border trade, and provide each other with customs
incentives, especially for agricultural products.
The two sides will continue to implement signed agreements within the
framework of the two countries’ economic, cultural and
science-technology cooperation, as well as regional agreements and
cooperation.
They will establish border trade
development programmes to attract greater investment from other
countries in the region and the world to reduce poverty and improve the
living standards for local people in the two countries’ border areas.
At the event, Minister Hoang and Cambodian Minister of
Commerce Cham Prasidh signed an agreement to implement the development
plan of the Vietnam-Cambodia border market network. Nguyen Cam Tu,
Deputy Minister of Industry and Trade, and Keo Sok Nay, Secretary of
State of the Cambodian Commerce Ministry, signed a Memorandum of
Understanding on the 5th Vietnam-Cambodia border trade development
cooperation.
Earlier on January 8, the construction
of a pilot Vietnam-Cambodia border market began along the border between
Tay Ninh province of Vietnam and Kompong Cham province of Cambodia./.VNA