PHNOM
PENH, Feb. 10, 2012 (PRU) – Cambodia and Vietnam said on Friday that
bilateral trade and investment need to further increase, a statement
that reaffirmed the two countries commitment to the signed bilateral
agreement which led to recent increases in bilateral trade which
increased to over $2.8 billion last year.
Cambodia
and Vietnam have enjoyed strong growth in the last few years thanks in
large part to the economic relations between the two countries.
Vietnamese exports to Cambodia last year exceeded $2.4 billion while Cambodian exports to Vietnam were more than $400 million.
During
the meeting between His Excellency Dr. Sok An and Vietnam’s Minister of
Planning and Investment, His Excellency Bui Quang Vinh, the two
Ministers affirmed that the two countries are expected to further expand
bilateral economic relations and trade in coming years.
Deputy
Prime Minister His Excellency Dr. Sok An called for improved
cooperation between Cambodia’s Ministry of Planning and the Council for
the Development of Cambodia (CDC) with Vietnam’s Ministry of Planning
and Investment on how to further increase trade and investment.
Cambodia’s
Ministry of Planning will focus more on exchanging information on trade
and investment with Vietnam and on training Cambodian human resources
to better support the growing demand of companies operating in Cambodia.
For its part, the Council for Development of Cambodia (CDC) will focus more on legal aspects pertaining to promoting bilateral trade and investment, said His Excellency Sok An.
Vietnam’s
Minister Bui Quang Vinh said “I would welcome an increase in
cooperation with Cambodia’s CDC and the Ministry of Planning.”
His
Excellency Dr. Sok An, who is also Minister in Charge of the Office of
the Council of Ministers, said that “we hope that trade and investment
between our two countries will increase in the future particularly given
Cambodia and Vietnam special relations.”