Vietnam-Cambodia Trade Up by 130 Percent
May 11 – Trade between Vietnam and Cambodia jumped 130 percent in the first four months of the year, reaching US$432 million.
The two nations set a goal to bring in US$2 billion worth of bilateral trade for 2010. Last year, trade amounted to US$1.33 billion, a decrease of 19 percent compared to the previous year due to the global financial crisis.
Due to its proximity, Vietnam is Cambodia’s third largest export market after Thailand and China while Cambodia is the 16th biggest export market for Vietnamese products. Trade is conducted in Vietnam’s ten border gates, primarily in An Giang and Tay Ninh Province. At the border gates are economic zones that impose import and export taxes for all goods entering and leaving Vietnam.
Vietnam’s major export to Cambodia include vegetables, fruit, plastic products, home utensils, construction materials, fertilizers and farming machines while Cambodia sells primarily wood, rubber, cashew nuts, maize and cassava to Vietnam.
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