Trade between Cambodia and Vietnam was worth $1.35 billion in the first half of the year, a year-on-year increase of 56.7 per cent, trade officials said.

Addressing the Vietnamese Business Forum organized by the Ministry of Industry and Trade and the Vietnamese embassy in Phnom Penh on Tuesday, Deputy Minister of Industry and Trade of Viet Nam Le Danh Vinh said trade and transit agreements signed between the two countries have helped promote their commercial links.

Trade between the two countries topped $1.82 billion last year, while Cambodia licensed 89 Vietnamese FDI projects worth nearly $2 billion.

Vinh praised the significant contributions of the Vietnamese community in the neighboring country, saying they were a major factor in the close ties between Cambodia and Vietnam.

The chairman of the Vietnamese Business Association in Cambodia, Nguyen Van Dinh, said most Vietnamese businesses operating in Cambodia were medium and small enterprises who wanted easier access to bank loans.

Vinh wanted Vietnamese authorities to simplify import-export formalities, enabling temporary import and re-export of vehicles.

July 29, 2011