Trade with Vietnam increases

Bilateral trade between Cambodia and neighbouring Vietnam rose more than 10 per cent year-on-year in the first quarter of this year, data from the Vietnam Embassy in Phnom Penh showed. Officials said cross-border trade facilitation by both countries significantly contributed to the growth. But they said the growth rate slowed down a little, as more competition developed from other importing countries. The data showed total two-way-trade was worth $1.013 billion in the first quarter of the year, a 10.26 per cent increase from $918.694 million in the same period last year. ... The breakdown figure showed that in the first quarter of 2013, Cambodia’s total exports to Vietnam were valued at $221,153,942, a 9.9 per cent increase from $201,198,500 in the same period of 2012. The value of Vietnam’s exports to Cambodia reached $791,857,900, up 10.36 per cent from $717,495,323 in the same period last year. ... Cambodia mainly exported aquatic products and seafood, corn, dried tobacco, rubber latex, paddy rice and cashew nuts to Vietnam. The main products from Vietnam were all kinds of steel and made-from-steel products, confectionery, cereal products, garments, rubber products, vegetables and fruits, paper, metal products, machinery products, transportation vehicles and spare parts. ... I am really optimistic about the rise in bilateral trade volume which will certainly pave the way for the target of $5 billion set by the two governments by 2015.” [per Ministry of Industry Mines and Energy director general Meng Saktheara] The data showed that total bilateral trade between both countries was worth $3.316 billion last year compared to $2.836 billion in the same period of 2011 – an increase of 17 per cent. ...

http://www.phnompenhpost.com/2013050965501/Business/trade-with-vietnam-increases-2013.html