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Cambodia fosters cross-border trade

Cambodia plans to step up cross-border trade activities and has begun talks with neighbouring countries to intensify trade ties, Cambodian Prime Minister Hun Sen said on April 2.
Cambodia fosters cross-border trade ảnh 1Cambodian Prime Minister Hun Sen (Source: Xinhua/VNA)

Phnom Penh (VNA) – Cambodia plans to step up cross-border tradeactivities and has begun talks with neighbouring countries to intensify tradeties, Cambodian Prime Minister Hun Sen said on April 2.

Speaking at a ceremony to inaugurate a Japanese-funded26-million-USD water supply system in Kampot, Hun Sen said that the countrybegan talks for increased bilateral trade with Laos, Thailand and Vietnam toopen new border gates.

Cambodia had previously announced a seriesof urgent measures to strengthen the independence of the economy and supportdomestic exporters given the context that the European Union is considering theremoval of preferential trade arrangements under the Everything But Arms (EBA)scheme, which unilaterally grants duty- and quota-free access to the world’sleast developed countries.

In 2018, trade volume between Cambodia and Thailandamounted to over 8 billion USD; Cambodia-Vietnam, 5 billion USD; andCambodia-Laos, 24 million USD.

According the Ministry of Commerce’sreport, Cambodia’s total foreign trade volume hit almost 25 billion USD in 2018,of which 11.21 billion USD came from exports. –VNA 
VNA
#Cambodia#cross-border trade#neighbouring countries#Cambodian Prime Minister Hun Sen#water supply system#new border gates#Vietnam#Vietnamplus#Vietnam News Agency
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