[PHNOM PENH POST]
CAMBODIA and Vietnam yesterday pledged to strengthen cooperation on a
range of issues involving trade and investment, in order to boost
increasing trade between the neighbouring countries.
Bilateral
trade between the nations is currently in its most significant period,
with trans-border business continuing to grow, Cambodia Chamber of
Commerce President Kith Meng told around 50 Vietnamese investors at a
Cambodia-Vietnam Business Forum held yesterday.
“Both our
countries have enjoyed remarkable economic success over the past decade,
which has created opportunities for business, while also helping many
people to escape poverty,” he said.
The total trade volume
between the ASEAN members in the first eight months of 2011 increased 37
percent to US$1.08 billion compared to the same period last year,
Ministry of Commerce figures showed.
A breakdown of the figures
showed that Cambodia’s exports to Vietnam soared 116 percent
year-on-year to $105 million, while in the opposite direction trade rose
43 percent hitting $976 million, in the same period.
“Last
year, bilateral trade between our countries increased 37 percent, to
more than $1.8 billion,” Kith Meng said, adding that he expects
Cambodia’s GDP to surpass last year’s figure of 6 percent, possibly
hitting 8 percent, in light of positive gains in the garment sector.
President
of the National Assembly of Socialist Republic of Vietnam Nguyen Sinh
Hung said at the forum yesterday that Vietnam is committed to
strengthening cooperation on political, economic and social issues with
Cambodia.
“We will invest together in our agriculture sectors,
while also investing in the mining, energy and industry sector,” he
said, adding that he expects Vietnamese investors to start looking into
alternative sectors in the neighbouring Kingdom.
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