Vietnam-Cambodia Trade to Reach US$2.45Bln in 2010

Bilateral trade value between Vietnam and its neighbor Cambodia is expected to rise by 27 per cent annually over the next three years, aiming to raise two-way trade to US$2.45 billion by 2010, said the Ministry of Trade (MoT).

 

Of the sum, Vietnam’s exports to Cambodia will reach US$1.9 billion, the rest being imports from the neighbor. The figure means that Vietnam will maintain its trade surplus status with Cambodia.

 

According to the MoT, Vietnam’s export revenue to the neighbor grew by 30 per cent in the 2001-2006 period with two key export items – materials and industrial products. Agricultural, forestry and seafood products, and food accounted for around 8.2 per cent of total export value, materials made up 41.5 per cent and industrial products accounted for 50.3 per cent.

 

Currently, Vietnam is the fourth biggest exporter to Cambodia after Thailand, China and Hong Kong, and the neighbor is the 16th largest export market of Vietnamese goods

 

The country’s import value from Cambodia also witnessed annual growth rate of 35 per cent during the time, making Vietnam the third largest importer of Cambodia’s goods after the US and the EU, and the neighbor become the 25^th largest exporter to Vietnam.

 

Vietnam mainly imported rubber, timber, raw agricultural goods, forestry and seafood products from Cambodia.

 

In 2006, bilateral trade between the two Southeast Asian countries was estimated to reach US$940 million, up 35.6 per cent on-year, including US$770 million of Vietnam’s exports. (VNS, VOV)