Vietnam-Cambodia trade up 64 percent in two months
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|Vietnam exported 728.4 million USD worth of goods to the neighbouring country in the period. Photo: KT|
According to the Vietnamese trade affairs office in Cambodia, Vietnam exported $728.4 million worth of goods to the neighbouring country in the period, a rise of 8.6 percent, while importing more than $603 million, up 335 percent.
Vietnam mainly shipped steel, oil and gas, garment-textiles, consumption goods, and other agricultural products like fish, meat and vegetables to Cambodia. It imported cashew nuts, rubber, wood and timber products from the country.
Apart from boosting exports, Vietnam has offered tax incentives to Cambodian products.
|Vietnamese workers process tra fish for export. Photo: VNA|
The Cambodian Ministry of Commerce last month issued a feedback document about the country’s recent suspension of catfish imports from several neighbouring countries, including Vietnam, reaffirming Cambodia’s commitment to complying with and supporting the spirit of trade liberalization, the VNA reported.
The Ministry of Commerce said the Cambodian side will exert efforts in internal consultations to seek appropriate solutions to the issue so as to resume normal bilateral trading activities, for the sake of the two countries’ people.
It also reiterated the commitment to complying with and supporting the spirit of trade liberalisation within the framework of the multilateral trading system and the ASEAN Economic Community.
On January 8, the Cambodian Ministry of Agriculture, Forestry and Fisheries released an announcement about the suspension of the import of certain catfish species from some countries bordering Cambodia, including Vietnam.
Facing this, Vietnamese Minister of Industry and Trade Tran Tuan Anh on January 19 sent a letter to Cambodian Minister of Commerce Pan Sorasak, saying that the import ban shows signs of running counter to the trade liberalisation spirit of the World Trade Organisation (WTO) and the ASEAN Economic Community, of which both are members.
According to the Vietnamese ministry, in recent years, Vietnam has exported about $60 million worth of aquatic products to Cambodia annually. Cambodia is not a major market of Vietnamese aquatic products, but its stable import demand has contributed significantly to cross-border trade development, as well as job creation and income generation for local residents./.
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