Officials cut the ribbon to open Vietnam Trade Fair 2017 opened in Phnom Penh (Photo: VNA)

Phnom Penh (VNA) – The Vietnam Trade Fair 2017 opened in Phnom Penh, the capital city of Cambodia, on November 18, drawing more than 150 businesses of Vietnam and Cambodia.

The event, the eighth edition, was co-organised by the Defence Ministry and Industry and Trade Ministry of Vietnam and the Defence Ministry and Commerce Ministry of Cambodia.

It will run till November 22, with over 230 booths, covering an area of about 10,000 square metres. A forum to bolster Vietnam - Cambodia trade and investment will take place at the event, along with daily cultural performances.

Speaking at the opening ceremony, Vietnamese Deputy Defence Minister Tran Don said Vietnam has to date launched 190 investment projects in Cambodia with total registered capital worth nearly 3 billion USD.

Meanwhile, Cambodia’s investment in Vietnam is also on the rise, with 18 projects capitalizing at over 58 million USD.

Two-way trade hit 3 billion USD per year and the two countries are striving to raise the figure to 5 billion USD in upcoming years.

The fair is an important political event that fosters the friendship between the two nations. It also offers opportunities for Vietnamese firms to enhance cooperation with their Cambodian counterparts and explore new markets, thus boosting export to ASEAN member countries and Cambodia in particular, Don added.

For his part, Cambodian Secretary of State for Commerce Ok Boung said the event aims to consolidate and develop the traditional and comprehensive partnership between the two countries, celebrating the 50th founding anniversary of the diplomatic relations and the Vietnam – Cambodia Friendship Year 2017.

The Cambodian officials voiced his hope that the fair will enhance business connection of the two countries as various contracts will be inked. He affirmed that the two sides will continue working in creating optimal conditions for business links for mutual interests.-VNA