Search form

Login - Register | FOLLOW US ON

Logo of Phnom Penh Post newspaper Phnom Penh Post - Cambodia, Vietnam ink deal to drop tariffs

Cambodia, Vietnam ink deal to drop tariffs

CAMBODIA has signed a deal with Vietnam to lower some trade tariffs, with the aim to strengthen business ties between the two countries, according to a senior official at the Ministry of Commerce.

The agreement was inked on the sidelines of the ongoing ASEAN Summit in Hanoi between Minister of Commerce Cham Prasidh and Vietnam’s Minister of Industry and Trade Vu Huy Hoang on Friday.

“The deal is very important for general businesses – it will open markets for specific goods between the two countries,” said Chan Nora, Ministry of Commerce secretary of state yesterday. He was not able to immediately unveil what goods would see reduced tariffs.

Cambodia’s exports to its eastern neighbour will be taxed at levels between zero and 60 percent, whereas the Kingdom will remove tariffs on 13 new Vietnamese products, according to Vietnam’s VOV news service.

Eu Om, commercial counsellor at Vietnam’s Phnom Penh embassy, said yesterday it was crucial to sign agreements to offer tax exemptions to boost future bilateral trade.



Please, login or register to post a comment

Latest Video

Behind the scenes of Bird Monster Battle

The Post visited the Lakhon Khol Youth of Cambodia dance group as they practised at the Royal University of Fine Arts in preparation for a performance on Sunday at Beltei International University.

Senate passes amendments allowing seat redistribution

Following last week's events, when Prime Minister Hun Sen proposed redistributing the Cambodia National Rescue Party’s National Assembly seats among minor opposition parties, the controversial amendments were passed a