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Club to enhance bilateral trade with Vietnam

21
Oct '08
Vietnam and Cambodia are neighbours sharing a common border extending to 1,137 kms. Now in order to further strength the relationship, a club has been formed between the two countries.

The club which is an offshoot of the Vietnam-Cambodia Friendship Association is expected to provide enterprises in both the countries, information on existing investment policies and opportunities in both the countries.

Bilateral relations between Cambodia and Vietnam were long strained due to the Cambodian-Vietnamese war. But now both nations have since taken steps to establish friendly ties.

Since the 1990s, relations between both nations have begun to improve. Both Vietnam and Cambodia are members of multilateral regional organizations such as ASEAN and the Mekong - Ganga Cooperation.

Both nations have opened and developed cross-border trade and sought to relax visa regulations to that end. Both governments have set official targets of increasing bilateral trade by 27% to US $2.3 billion by 2010 and to USD 6.5 billion by 2015.

Vietnam exported $ 1.2 billion worth of goods to Cambodia in 2007. While Cambodia is the 16th largest importer of Vietnamese goods, Vietnam is Cambodia's third-largest export market.

Fibre2fashion News Desk - India


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