Bilateral trade between Cambodia and Vietnam surged by 36 percent in the first nine months of this year, as both governments attempt to reach a US$2 billion trade target by year end. The value of trade between the two neighbours hit $1.287 billion from January to September, up on the $946 million in last year’s first nine months, according to data from the Vietnam Trade Office at the Vietnamese Embassy in Phnom Penh.
|Description||Amount (1st nine months )||Increase|
|Cambodia-Vietnam||$130M to $191M||47 %|
|Vietnam -Cambodia||$818M to $1096M||34 %|
Secretary of State at Cambodia’s Ministry of Commerce, Ok Boung, stated the signed trade deals between the two nations this year were significant factors which had boosted economic activities.
Earlier this month, the minister of industry and trade of Vietnam, Vu Huy Hoang, and Cambodia’s Commerce Minister Cham Prasidh signed agreements on preferential tax rates between the two countries. According to the Vietnam Trade Office, Vietnam’s main exports to Cambodia included machinery for agriculture, fertilizer, seafood and petroleum. Cambodia mainly ships garment materials and agriculture produce such as wood, rubber, cashew nuts, rice and corn to neighbouring Vietnam.