Cambodia, Vietnam open trade expo in bid to boost commerce

September 22, 2008 at 10:08 am Leave a comment

The Phnom Penh Post – September 22, 2008

Written by May Kunmakara

Dancers perform during the opening of a Cambodia-Vietnam trade expo that opened at the weekend. (PHOTO: HENG CHIVOAN)

FOREIGN Minister Hor Namhong has urged Cambodia and Vietnam to increase trade to US$2 billion by 2010, speaking last week at the seventh annual trade exposition aimed at introducing Vietnamese products to Cambodian markets.

“The aim is to encourage the large-scale sale of high-quality Vietnamese products in our country,” he told reporters at the start of the five-day event featuring about 150 Vietnamese manufacturers, adding that previous trade fairs have contributed significantly to cross-border commerce.

Trade currently stands at just under $1 billion for the first half of the year. Hor Namhong said the government was trying to encourage Vietnamese manufacturers to begin producing goods in the Kingdom for export to third countries where Cambodia has preferential status, benefiting from low tariffs.

Nguyen Cam Tu, Vietnam’s vice minister of industry and commerce, said strong economic growth in Cambodia was key to greater trade between the two countries. “There are a lot of products imported into Cambodia from countries other than Vietnam,” she said.

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Entry filed under: Economy and Trade. Tags: .

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