Vietnam, Cambodia bilateral trade posts over $1 bln in first 10 months

Vietnam, Cambodia bilateral trade posts over $1 bln in first 10 months
Editor: Wang Guanqun

HANOI, Dec. 16 (Xinhua) -- Bilateral trade between Vietnam and Cambodia stood at 1.05 billion U.S. dollars in the first ten months of this year, down 28 percent year-on-year, according to the information center of Vietnamese Ministry of Industry and Trade on Wednesday.

Of the total, Vietnam raked in 907 million U.S. dollars from exports to the Cambodian market while spending 142 million U.S. dollars on imports from Cambodia, said the center.

For the whole year, Vietnam is expected to earn 1.2 billion U.S. dollars from sales to Cambodia and spend 170 million U.S. dollars on purchases from this market, local newspaper Vietnam Investment Review cited the estimates from the Ministry of Industry and Trade on Wednesday.

In 2010, Vietnam targets to increase bilateral trade with Cambodia to 2 billion U.S. dollars.

To reach the target, the ministry put forward a number of measures including boosting trade promotion activities and improving quality of Vietnamese products.

Last year, two-way trade between Vietnam and Cambodia reached 1.64 billion U.S. dollars, up from 1.19 billion U.S. dollars in 2007,according to the center.

news.xinhuanet.com

those who are of the opinion that Cambodia is dependant on Thailand may like to revise their position :mid:

Mid, I know you aint too bright, but confusing aids and trades is being really seriously incapacitated :)

keep digging for news that will make you feel better ;)

whatever

Vietnam, Cambodia sign billion-dollar deals

Vietnamese and Cambodian businesses have signed investment agreements and contracts worth $US6 billion.

The deals were signed at a conference held in Ho Chih Minh City on Saturday to promote Vietnamese investment in Cambodia

The event was co-chaired by Vietnamese Prime Minister Nguyen Tan Dung and his Cambodian counterpart Hun Sen.

More than 60 documents for bilateral cooperation in almost all areas, including power generation, food processing, fertilizer production, rubber plantation and health care, were signed.

Two-way trade has increased significantly in recent years, reaching $1.7 billion in 2008, up 40 per cent against 2007.

With over 60 projects with a total capitalisation of nearly $900 million, Vietnam is among the top three foreign investors in Cambodia

radioaustralianews.net.au

Trade between Cambodia and Vietnam down 26 per cent
Jan 6, 2010

Phnom Penh - The global economic crisis caused a 26 per cent slump in trade between Cambodia and Vietnam through November, but officials in both countries expect a strong rebound this year, national media reported Wednesday.

Two-way trade between the south-east Asian neighbours stood at 1.175 billion dollars, statistics released by the Vietnamese embassy in Phnom Penh revealed. Vietnamese exports to Cambodia made up the lion's share, worth 1.017 billion dollars.

The commercial attache at the Vietnamese embassy told the Cambodia Daily newspaper that trade would likely double between the two nations this year. That echoed earlier comments made by Cambodia's commerce minister.

'The economic (ties) between Vietnam and Cambodia in investment and trade are growing,' said the embassy's Le Bien Cuong, predicting improved figures in a number of areas particularly commodities and construction materials.

Vietnam, a close political ally, is also a key investor in Cambodia with significant interests in agribusiness, telecoms and banking. Last month the two nations signed an agreement that could result in investments worth billions of dollars, including one for a bauxite mining concession.

Exports of fuel and steel products totalling 560 million dollars made up more than half of Vietnam's exports to Cambodia. Bilateral trade stood at 1.64 billion dollars in 2008, up from 1.2 billion dollars the previous year.

monstersandcritics.com