Vietnam and Cambodia increase trade volume

Center for Trade, Promotion and Investment in Ho Chi Minh City held a press conference on the organization of the 2013 Exhibition Trade Services between Vietnam and Cambodia that is expected to take place from April 3-7 at the Mondial Center in the Cambodian capital of Phnom Penh.

This is an annual EXPO fair of Ho Chi Minh City to speed up commercial exchange between the two countries.

Vietnam is expected to increase its Cambodian market investment to US$3.2 billion and the value of the two-day trade is predicted to hit $5 billion by 2015.

Meanwhile, a Vietnam-Laos-Cambodia ministerial meeting has been scheduled for the end of March, to draw plans for the development of the triangle area into a famous industrial and rubber production zone.

Vietnam-Cambodia trade turnover maintains its upward trend. In 2010 it had reached $1.83 billion, with Vietnamese exports contributing $1.552 billion; in 2011 it was $2.829 billion, up 54.75 percent, and Vietnam’s export revenue climbed to $2.4 billion.

Last year’s two-way trade value was at $3.3 billion. Vietnamese exports contributed $2.9 billion.

Vietnam is currently Cambodia’s second largest trade partner. Vietnam’s key exports to Cambodia include plastic home appliances, instant noodles, and spare electric parts. It imports mainly rubber, wood, tobacco, and raw material for the garments and textiles sector.

By the end of 2012, Vietnam had 104 projects in Cambodia representing a total registered capital of $2.42 billion, four times higher than the previous three years. 

Source SGGP, DTTC- translated by MT

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