Bilateral trade between Vietnam and the neighboring country of Cambodia is expected increase to US$1 billion in 2006, up 66.6 per cent against 2005.
The forecast was released by the Vietnamese Ministry of Trade (MoT) during a meeting of the steering board for Vietnam-Cambodia border trade held in southwestern Tay Ninh province on November 1.
In the first nine months of this year, two-way trade value surpassed $600 million, equaling the whole revenue of last year, thus the expected trade worth $1 billion is possible because the rest months of this year is the peak time of goods trading, the ministry added.
Addressing at the meeting, Vietnamese Deputy Trade Minister Phan The Rue urged localities bordering Cambodia to actively manage trading activities in accordance with international trade rules.
He asked these provinces to pour more money into building infrastructure facilities, developing services, attracting investment and creating jobs for local residents in border areas.
The official also called on relevant ministries and agencies to issue open, unified and transparent policies in order to facilitate operations of border economic zones.
Many participants also raised their concerns about obstacles related to administrative procedures, customs clearance formalities, payment and tax deduction, which have hindered cross-border trade activities between the two countries.
In related development, Cambodian Deputy Prime Minister Hor Namhong paid a three-day working visit to Vietnam late October in the same move to expand bilateral trade with Vietnam.
The two countries expect their trade to mount to $2 billion in 2010.
Vietnam & World Economy, VNA
Vietnamese
