Logo of Phnom Penh Post newspaper Phnom Penh Post - Markets considered on Vietnam border

Markets considered on Vietnam border

Markets considered on Vietnam border

COMMERCE Minister Cham Prasidh has urged Cambodia and Vietnam to begin planning for a model market on the border, which officials from both countries say will help facilitate crossborder trade and improve prosperity in border provinces.

"I am calling on the committee to study two potential locations: Peam Chor district in Prey Veng province and Thari Economic Zone near the checkpoint in Kampong Cham's Memot district," Cham Prasidh said at the second meeting on the development of border trade cooperation Monday. "After the study is completed, I will confirm with our Vietnamese counterparts immediately during ... April," he said.   

Cham Prasidh also proposed that both sides hold discussions on market infrastructure management, trade payment mechanisms and the principle of cross-border trade settlement in order to continue developing cross-border trade.

Keo Soknay, a secretary of state at the ministry, said that although it had not yet sent an in-depth plan to Vietnam, both sides had already toured the sites. Prey Veng would encompass 37,595 square metres, he added.

Vu Huy Hoang, Vietnam's minister of industry and trade, said such initiatives were important for the two neighbours to develop their economies and improve standards of living.

Cham Prasidh said that the Kingdom is confident the trade gap with Vietnam would be "reduced soon". He said that Cambodia exported an estimated US$200 million in goods to Vietnam in 2008, while importing over $1 billion. 

MOST VIEWED

  • Negotiations on EBA being held

    In an effort to defuse tensions, a senior government official said Cambodia is negotiating with the European Union (EU) on the Everything But Arms (EBA) trade deal, which allows the Kingdom to export goods to the 28-member bloc tariff-free. The EU notified Cambodia on October 5

  • Ministers to tackle sea pollutants

    Preah Sihanouk provincial authorities and members of local communities have collected 77 tonnes of water hyacinth at a Sihanoukville beach, Preah Sihanouk Provincial Hall spokesperson Or Saroeun said. He told The Post yesterday that the aquatic weeds had been floating along some of the province’s

  • Chinese police escort deported scam suspects

    Ninety-one Chinese nationals accused of extorting money from victims in a Voice over Internet Protocol (VoIP) scam were deported from Phnom Penh International Airport on Monday under the escort of 182 Chinese police personnel. General Department of Immigration head of investigations Ouk Hay Seila told reporters

  • Sam Rainsy, government group set to clash at IPU Geneva meet?

    Opposition figure Sam Rainsy has been invited to speak at the General Assembly of the Inter-Parliamentary Union (IPU) in Geneva, according to a former Cambodia National Rescue Party (CNRP) lawmaker. A government delegation is also set to attend the meeting, a National Assembly press release