Logo of Phnom Penh Post newspaper Phnom Penh Post - Vietnam trade rises, yet deficit widens

Vietnam trade rises, yet deficit widens

Vietnam trade rises, yet deficit widens

CAMBODIA’S trade deficit with Vietnam widened over the first eleven months last year to US$1.383 billion, according to figures obtained from the Vietnam Trade Office in Phnom Penh yesterday.

“We cannot balance trade with them because they have a very big population and economy,” said Kong Putheara, Deputy Cabinet Chief of the Ministry of Commerce.

Vietnam exported some $1.593 million worth of goods to the Kingdom in 2010, up to the end of November, a 36 percent increase on the same period of 2009.

Meanwhile, Cambodia exported $210 million worth of goods to its eastern neighbour during the period, a 32 percent increase.

In 2009, the gap between Vietnamese exports and Cambodia’s was worth about $1.016 billion.

“Vietnam sees plenty of potential in Cambodia, compared with other countries, because of how close they are to us,”  said Kong Putheara.

Tensions with Thailand had also provided opportunities for Vietnam to increase its business in the Kingdom, he said, adding Vietnam’s economic footprint here would continue to grow even as relations improved with Thailand

Cambodia’s major exports to Vietnam are agricultural products such as wood, rubber, cashews, rice, and corn.

Vietnam ships  products such as vegetables, fruits, instant noodles, plastics, and cigarettes to the Kingdom.

MOST VIEWED

  • PM to vet NY holiday dates

    The Ministry of Economy and Finance submitted a letter to Prime Minister Hun Sen asking him to formally set a five-day national holiday from August 17-21 to make up for the Khmer New Year holiday in April that was postponed. Finance minister Aun Pornmoniroth sent

  • Cambodia rejects UN rights claim

    Cambodia's Permanent Mission to the UN Office in Geneva on Friday hit back at David Kaye, the UN special rapporteur on the Promotion and Protection of the Right to Freedom of Opinion and Expression after he raised concerns over the repression of free speech and

  • Snaring may spawn diseases

    The World Wildlife Fund (WWF) has warned that snaring of animals has become a crisis that poses a serious risk to wildlife in Southeast Asia and could spawn the transmission of zoonotic diseases to humans. Its July 9 report entitled Silence of the Snares: Southeast Asia’

  • Ex-party leader, gov’t critic named as secretary of state

    A former political party leader known for being critical of the government has been appointed secretary of state at the Ministry of Rural Development, a royal decree dated July 9 said. Sourn Serey Ratha, the former president of the Khmer Power Party (KPP), told The Post

  • Residence cards set for over 80,000 immigrants

    The Ministry of Interior plans to grant residence cards to more than 80,000 immigrants to better keep track of them. The ministry announced the plan on July 10, following the results of an immigration census. “An inter-ministerial committee and many operational working groups have been set up

  • Kingdom produces PPE gear

    Medical supplies from Cambodia have been donated to member countries of the Asian Development Bank (ADB) to assist in the fight against Covid-19, said an ADB report published on July 9. The report stated that the supplies were donated as a response to global efforts to

  • Kingdom, US vow stronger ties

    At an academic forum on Saturday to celebrate 70 years of Cambodia-US diplomatic ties, Cambodian researchers and officials expressed hope of encouraging US investments and for that country to deepen and improve its bilateral relations. Held at the Royal Academy of Cambodia, it reviewed the past 70

  • Fifteen Cambodians from Saudi get Covid-19

    The Ministry of Health on Sunday confirmed 15 more imported cases of Covid. The 15 men ‒ all Cambodian aged 21 to 33 ‒ arrived from Saudi Arabia on Friday via a connecting flight in Malaysia. They were travelling with 79 other passengers, three of them women. The ministry said 80 of the

  • Ministry requests school opening

    The Ministry of Education, Youth and Sport on Thursday said it would request a decision from Prime Minister Hun Sen to allow a small number of schools to reopen next month. Ministry spokesman Ros Soveacha said if the request is granted, higher-standard schools will reopen

  • Kingdom eyes India FTA, China deal set for August

    Cambodia is studying the possibility of establishing a bilateral free trade agreement (FTA) with India to open a new market with the second-largest regional economy. This comes as an FTA with China is scheduled to be signed next month while similar negotiations with South Korea