Logo of Phnom Penh Post newspaper Phnom Penh Post - Vietnam trade: Trade rose 43pc up until May: official

Vietnam trade: Trade rose 43pc up until May: official

Vietnam trade: Trade rose 43pc up until May: official

Vietnam trade
BILATERAL trade between Cambodia and Vietnam through the end of April rose 43 percent over the same period in 2009, according to the most recent Vietnamese embassy figures, but trade fell month on month between March and April as contracts came up for renewal, officials said. Two-way trade totalled US$572 million from January until the end of April, from $400 million during the same period last year. “The figures are on target to reach $2 billion in trade this year, because a lot of Vietnamese companies come to invest in Cambodia,” said Le Bien Cuong, The Vietnamese embassy’s commercial counselor. Cambodia’s exports to its eastern neighbour increased 54.4 percent to $105 million, from $68 million in 2009. Vietnam exported $467 million worth of goods – an increase of 41 percent. However, $139.5 million in two-way trade during April of this year represented an 18 percent drop compared to March. The decline in month-on-month trade was at least partly attributable to the regular turnover of business contracts, Le Bien Cuong said. “The decrease is because contracts between Cambodian and Vietnamese firms often expire at the end of the quarter [in March] and they need to be renewed.”

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