Cambodia-Vietnam trade to reach US$5 billion

09:14 | 29/08/2014 Cooperation

(VEN) - On the occasion of an official visit of the Cambodian National Assembly delegation led by its President Samdech Heng Samrin to Hanoi on August 18-20, Vietnamese National Assembly Chairman Nguyen Sinh Hung said that Vietnam and Cambodia would make further efforts to reach trade turnover of US$5 billion by 2015.

Vietnamese National Assembly Chairman Nguyen Sinh Hung (right) and his Cambodian counterpart Samdech Heng Samrin

At a meeting, Vietnamese National Assembly Chairman Nguyen Sinh Hung and his Cambodian counterpart Samdech Heng Samrin agreed to continue promoting comprehensive cooperation between the two countries in the fields of economics, education, culture and health. The two sides also agreed to strengthen solidarity and support each other in resolving common issues in the region and the world, contributing to building peace and stability and enhancing its role and position in international parliamentary forums.

Towards the ASEAN Economic Community by 2015, the two sides will make further efforts to build the ASEAN Inter-Parliamentary Assembly (AIPA).

According to Vietnamese National Assembly Chairman Nguyen Sinh Hung, trade and economic cooperation remained a key pillar for bilateral relations. Vietnam will create favorable conditions for enterprises between the two countries to strengthen cooperation and expand market share. Vietnam and Cambodia should strive to raise bilateral trade turnover to US$5 billion by 2015.

Total trade turnover between Vietnam and Cambodia in 2013 reached US$3.42 billion, an increase of nearly four percent compared to 2012. In the first seven months of this year, its figure reached an estimated US$1.95 billion.

Vietnam and Cambodia can further develop the relationship thanks to advantages such as the common border between 10 Vietnamese provinces and 9 Cambodian provinces, 10 international border gates and similar consumer tastes.

“Transport infrastructure has been gradually perfected. Together with the establishment of the ASEAN Economic Community by 2015, the two countries need to catch up its great opportunity to develop the relationship,” National Assembly Chairman Nguyen Sinh Hung said.

Vietnamese National Assembly Chairman Nguyen Sinh Hung also proposed to the Cambodian government to support Vietnamese enterprises in completing procedures in growing industrial plants, contributing to creating favorable conditions for enterprises to do long-term business.

Cambodian National Assembly President Samdech Heng Samrin said that comprehensive cooperation between Vietnam and Cambodia had always been a model for neighboring countries. Cambodia highly appreciated Vietnam’s supports for its socioeconomic development in the past and hopes that the relationship between the two countries would reach a new height in the future.

In terms of economic cooperation, Vietnam remains Cambodia’s leading trade partner. Cambodian National Assembly President Samdech Heng Samrin said that Cambodia desired to continue receiving Vietnam’s support in economic development and investment cooperation. Cambodia remains keen to encourage Vietnamese businesses to invest in Cambodia’s agriculture and industry.

“The visit to Vietnam aims at further enhancing and strengthening the relationship between the two countries. In particular, in the context of regional and international integration, this relationship will bring practical benefits to both sides,” Cambodian National Assembly President Samdech Heng Samrin said./.

On the occasion of an official visit of the Cambodian National Assembly delegation to Hanoi on August 18-20, Cambodian National Assembly President Samdech Heng Samrin had meetings with his Vietnamese counterpart Nguyen Sinh Hung, General Secretary Nguyen Phu Trong, President Truong Tan Sang and Prime Minister Nguyen Tan Dung.

By Hung Cuong

 

Theo ven.vn