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Cambodia to get new border crossing to Vietnam: PM
Prime Minister Hun Sen on Monday announced the establishment of a new border crossing to Vietnam in Tboung Khmum province, aimed at boosting trade and travel between the neighbours.
Mr Hun Sen was speaking at Koh Thma to commemorate the 45th Remembrance Day of the “Journey to Overthrow the Pol Pot Genocidal Regime.”
The establishment of the new international border gate involves work related to building infrastructure and completing internal procedures, he said, adding that it will be inaugurated at the proper time in the future.
“If the new border gate opens in this area, it will contribute to the two countries strengthening cooperation with trade activities currently increasing,” he said.
Cambodia exported $1,079 million worth of goods to Vietnam in the January-May period this year, a 3.4 percent increase year-on-year, making Vietnam the second biggest market for Cambodia’s goods after the US, according to data from the General Department of Customs and Excise.
The Kingdom imported back from Vietnam goods worth $1,710 million, a 34 percent increase compared with the same period last year.
“The opening of border gates and special economic zones along the border are important, contributing to goods crossing the border,” said Lim Heng, vice-president of the Cambodia Chamber of Commerce.
“Cambodia produces mostly agricultural products but we
lack processing [facilities] domestically, and the exports to neighbouring countries are important,” he said.
There are a number of border crossings between Vietnam and Cambodia with the main one in Bavet-Moc Bai.
The two governments have talked about upgrading border checkpoints aimed at facilitating the movement of goods and tourists.
The two-way trade between Cambodia and neighbouring Vietnam is expected to reach more than $10 billion by the
end of this year, Prime Minister Hun Sen said.
During the first five months of this year, trade between the two nations was recorded at over $5 billion, the prime minister said and recalled that last year, despite the Covid-19 pandemic; bilateral trade was valued at some $9 billion.
Cambodia’s main exports to Vietnam are agricultural products – rice, cashew nut, rubber, vegetables, iron and steel scraps – while the imported products are iron and steel, oil and gas, apparel and footwear materials.
Source: https://www.khmertimeskh.com/501097768/cambodia-to-get-new-border-crossing-to-vietnam-pm/