31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / News / Viet Nam
Vietnam, Cambodia talk for smooth trade amid Covid-19
Minh Vu 21:51, 2021/05/07
The two-way trade in the first quarter this year rose 103.68% on-year despite Covid-19.

Vietnam and Cambodia have discussed measures to improve customs clearance in order to smooth the trans-border supply chain in the face of Covid-19.

 Vietnam’s Minister of Industry and Trade Nguyen Hong Dien hands over part of Covid-19 relief to Cambodia’s Ambassador to Vietnam Chay Navuth in Hanoi on May 6. Photo: Bnews/VNA

The two countries will both facilitate the import-export procedures at border gates and in waterways mostly for essential commodities like medical equipment and food, reported at a meeting in Hanoi on May 6 between Vietnam’s Minister of Industry and Trade Nguyen Hong Dien and Cambodia’s Ambassador to Vietnam Chay Navuth.

In details, businesses of the two sides will be supported in trade promotion, building brands and distribution networks.

At the governmental level, the two countries will speed up the joint comprehensive implementation of the Vietnam-Cambodia memorandum of understanding on the connection and development of border trade infrastructure.

In addition, they will review and adjust regulatory documents on commerce, especially the agreement for bilateral trade in 2022-2023.

 Moc Bai, Vietnam's largest border gate with Cambodia. Photo: Bao Tay Ninh

Vietnam and Cambodia maintains smooth commercial links with the two-way trade worth US$5.2 billion in 2019, tripling that in 2010, according to Vietnam’s Ministry of Industry and Trade.

In the first quarter 2021, the two-way trade increased 103.68% on-year to US$2.69 billion. Of the total, Vietnam’s imports from Cambodia reached US$1.47 billion, up 443% on year.

Vietnam’s main staples to Cambodia were steel, accounting for 19.7% of the bilateral trade, garment and textile 15.3%, oil and gas 8%, and footwear 6.6%.

Cambodia’s main export items include cashew nut accounting for 48.1%, rubber 21.5%, veggies and fruit 1%.

Between 2010 and 2019, the bilateral trade posted an average growth rate of 18% annually.

Vietnam and Cambodia share a border line of more than 1,100 km with 33 border gates.

TAG: Vietnam cambodia trade ambassador border gate covid-19
Other news
20:55, 2022/55/11
Vietnam works with some European countries for new passports
Vietnamese authorities have realized that the birthplace-omitted passports have troubled other countries’ immigration work.
14:01, 2022/01/11
Vu Lan festival: A cultural activity with Buddhist philosophy in Vietnam
The festival is an opportunity to remember the merits of parents and ancestors.
10:48, 2022/48/10
Vietnam seeks ways to boost competitiveness of tourism
Vietnam strives to restore tourism back to the state of 2019 before the Covid-19 pandemic broke out.
19:28, 2022/28/09
Digital transformation matters a lot to economic integration: Vietnamese PM
Vietnam’s digital transformation is designed to be based on three main pillars namely institution, infrastructure, and manpower.
06:52, 2022/52/09
ASEAN: 55 years of unification and development
ASEAN has become the world's most successful bloc developing based on three pillars: politics-security, socio-culture, and economics.
17:36, 2022/36/08
Spain recognizes Vietnam's new passport
Vietnamese, who wish to apply for visas, need to bring their new passports and identity cards to verify their place of birth.