Thailand
Cambodia-Vietnam trade volume inches closer to $10 billion in 2021
Cambodia-Vietnam trade volume touched $9.3 billion last year—a rise of 75 per cent compared to 2020 figures—despite the impact of the pandemic.
Prime Minister Hun Sen and visiting Vietnamese foreign minister Bui Thanh Son recently discussed the issue and agreed to cooperate and sustain this momentum. Both committed to cross the $10-billion mark in 2022.
The reopening of direct flights between Vietnam and Cambodia will enable easy travel. Flights mounted by Vietnam Airlines commenced on January 1 with four flights a week and this is expected to be increase to 10 flights a week.
In 2021, Vietnamese companies poured more than $88.9 million into four new projects in Cambodia. This raised Vietnam’s total investment to over $2.84 billion, making it one of the five largest foreign investors in the neighbouring country.
Import and export revenue between the two countries was $8.63 billion in the first 11 months of this year, a dramatic rise of 84 per cent compared to the same period last year, data from the trade office showed.
The two-way trade revenue between the two countries soared to $9.3 billion by the end of 2021, up to $4 billion over 2020.
Twenty four out of 29 groups of Vietnamese products exported to Cambodia saw positive growth in the 11 months compared to the same period last year, including vegetables, tubers and fruits, animal feed and raw material, petrol and oil, fertiliser and others.
Vietnam and Cambodia posted total import and export revenue of over $5.32 billion in 2020, a slight increase of 0.84 per cent compared to 2019. Fibre2Fashion News Desk (DS)
Source: https://www.khmertimeskh.com/501015577/cambodia-vietnam-trade-volume-inches-closer-to-10-billion-in-2021/