Vietnam, Cambodia aim to increase bilateral trade to 5 billion USD before 2020

Chia sẻ
(VOVWORLD) - Prime Minister Nguyen Xuan Phuc hosted an official welcoming ceremony for his Cambodian counterpart Hun Sen at the Presidential Palace in Hanoi on Friday morning.
Vietnam, Cambodia aim to increase bilateral trade to 5 billion USD before 2020  - ảnh 1

At the talk afterwards, both sides expressed pleasure over the positive development of the Vietnam-Cambodia ties with regular meetings and exchanges between national leaders, ministries, sectors, mass organizations, and localities sharing the borderline. This year two way trade is likely to reach 4.5 billion USD. Vietnam continues to be one of the 10 largest investors in Cambodia with 200 projects worth 3 billion USD. Both sides agreed to increase efficiency of defense-security cooperation to safeguard peace, security, and stability of each country.

Both PMs applauded the completion of negotiations on the Border Trade Agreement and the signing of an MoU to acknowledge the result. They said they believe bilateral trade will soon achieve the goal of 5 billion USD and beyond by 2020.

PM Phuc and PM Hunsen agreed to settle pending issues in the spirit of friendship, and mutual understanding, aiming to legalize the 84% completion of land border demarcation and border marker planting by 2019.

After the talks, both leaders witnessed the signing of several cooperative documents in transport, border demarcation, and education.

PM Phuc told reporters about the results of his talk with PM Hunsen: “Prime Minister Hun Sen and I agreed to map out major directions to continue boosting bilateral ties in accordance with the principle “good neighborliness, traditional friendship, and comprehensive, lasting, and sustainable cooperation.” We affirm that we will continue to deepen our political ties and to forge closer defense-security cooperation to ensure peace, security and stability of each country, prevent cross-border crimes, and contribute to regional peace and stability. Both sides underlined the need to give high priorities and work harder to achieve new, practical results in economic cooperation, which should become a pillar of the two countries’ relations. We agreed to work closely to uphold the 22 regular dialogue and cooperation mechanisms to support businesses to boost investment between Vietnam and Cambodia in the years to come.”

PM Hun Sen told reporters he is glad that both sides have cooperated effectively in border delineation and will strive to complete the remaining 16% as soon as possible. He said Cambodia will work with Vietnam to jointly build a borderline of peace, friendship, cooperation, and co-development.