Vietnam and Cambodia cooperate in developing border trade

6/005/2010
VOVNews

The third conference on trade cooperation and development between Vietnam and Cambodia was held at the conference centre in Tan An City, Long An province, on May 6.

The conference was organised by Vietnam’s Ministry of Industry and Trade and Cambodia’s Ministry of Commerce.

Among the participants were representatives of businesses and related ministries and departments from Vietnam and Cambodia.

They reviewed results of border trade cooperation since the second conference on March 16, 2009, held in Phnom Penh, Cambodia, exchanged ideas on future commitments, agreements, and proposed cooperation measures.

Addressing the event, Vietnamese Minister of Industry and Trade Vu Huy Hoang said that cross-border trade turnover in 2009 exceeded US$1.4 billion despite the global economic crisis.

In the first quarter of 2010, trade turnover reached US$432.47 million, up 127 percent from the same period last year, he noted.

Hoang emphasised that border trade cooperation has contributed to reinforcing friendly relations, boosting economic, culture and social exchange, creating jobs, and strengthening security in border areas.

Leaders from the two countries agreed to strive for US$2 billion in turnover in 2010 and promote measures to further intensify cooperation.

At the close of the conference, a memorandum of understanding between Vietnam’s Ministry of Industry and Trade and Cambodia’s Ministry of Commerce was signed.