Cambodia and Vietnam are advancing bilateral trade cooperation through a project to establish a Cambodia–Vietnam Trade Center in Phnom Penh, creating more opportunities to display, promote and distribute products from both countries.
Recently, in Tay Ninh province, Vietnam, Ho Daret, commercial attaché at the Royal Embassy of Cambodia in Vietnam, coordinated and led a delegation of Cambodian traders in attending discussions and the signing of a Memorandum of Understanding (MoU) on trade cooperation between MEKONG TÂY NINH GROUP and KC MARKET GROUP.
The project aims to strengthen economic ties and open new market opportunities for traders from both countries. Cambodia will have opportunities to export agricultural and other products to Vietnamese and international markets, while Vietnamese products will likewise gain access to the Cambodian market.
During the discussions, both sides focused on simplifying documentation and import-export procedures, complying with the law and quality standards, and establishing secure and reliable payment mechanisms. One option raised was using Letters of Credit (L/C) through banks to reduce risks in transactions involving the purchase and sale of goods.
The two sides also discussed charging service fees as a percentage of sales or business results to reduce initial costs and encourage small and medium-sized enterprises to display and sell products at the trade center planned for Phnom Penh.
This initiative is expected to expand market opportunities, strengthen economic ties between the two countries and promote more active Cambodia–Vietnam trade flows.
By: Sopheak
