Vietnam Trade Office: Vietnam-Cambodia 08 Trade Up 30.76 per cent to US$1.7 Bln

Bilateral trade between Vietnam and Cambodia reportedly reached nearly US$1.7 billion, up US$400 million or 30.76 per cent on-year, the Vietnam Trade Office in Phnom Penh said Jan 10.

 

Of the total, Vietnam reaped US$1.45 billion from commodity exports, added the office

 

Steel, agricultural machines, fertilizer, plant pesticides, household utensils, farm produce, milk, seafood and petrol were Vietnam’s major exports to its neighbor in 2008. Seafood products made up 80 per cent of Cambodia’s market share, followed by building steel with 68 per cent and farm produce with 67 per cent.

 

The volume of Vietnamese goods exported to Cambodia soared 40 per cent annually and the export value rose fivefold compared to the import value during the 2004-2008 period.

 

Vietnam mainly imported wooden products, rubber latex, grains, unprocessed cashew nuts, tobacco and cassava from its neighbor

 

By late 2008, 120 Vietnamese businesses opened their representative offices and showrooms in Cambodia.

 

Currently, Vietnam is Cambodia’s 10th largest foreign investor with 19 licensed projects capitalized at US$228 million. 

 

The two governments have expected to raise two-way trade to US$2.45 billion in 2010 and US$7 billion in 2015. (VietnamNet)