09:02 | 20/11/2017 Trade
The 2017 Vietnam Trade Fair, themed ‘Friendship, cooperation and development’ officially opened in the Cambodian capital of Phnom Penh on November 18.
|A pavilion of Vietnamese enterprises at the fair - Credit: VOV|
The event, the eighth of this kind, is jointly held by the Vietnamese Ministry of Defence and the Vietnamese Ministry of Industry and Trade, alongside the Cambodian Ministry of Defence and Ministry of Trade.
The five-day fair features over 230 pavilions by more than 150 enterprises and units, including 120 from Vietnam and 30 from Cambodia.
At the fair, images highlighting the traditional friendship that exists between the two countries are being showcased to celebrate the 50th anniversary of diplomatic ties and Vietnam – Cambodia Friendship Year 2017.
Speaking at the fair, Vietnamese Deputy Defence Minister Lieutenant General Tran Don said that so far Vietnam has invested in 190 projects, worth a total registered capital of nearly US$3 billion, in Cambodia. Investment and business activities conducted by Vietnamese enterprises have significantly contributed to the social welfare and development of the neighbouring country.
In addition, Cambodia now has 18 investment projects in Vietnam, with total capital of over US$58 million. The bilateral trade between the two countries was approximately US$3 billion per year and is expected to reach US$5 billion in the coming years.
For his part, Cambodia’s Secretary of State of the Ministry of Commerce Ok Boung affirmed that the fair was one of the practical and meaningful activities, contributing to strengthening the long-term friendship and comprehensive cooperation between the two countries.
He also expressed his hope that the fair would provide a good opportunity for enterprises from both countries to enhance their business cooperation, as well as signing many contracts.
During the fair, a forum on ‘promoting trade and investment between Vietnam and Cambodia’ will be held, attracting a large number of relevant agencies and enterprises from the two countries.
In addition, the organising board will hold arts and cultural activities performed by both Vietnamese and Cambodian artists, as well as present gifts to policy beneficiary families and units of the Royal Cambodian Army.