Work Starts On Vietnam-Cambodia Model Border Market

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Abc123
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Work Starts On Vietnam-Cambodia Model Border Market

Post by Abc123 » Tue Jan 16, 2018 9:14 pm

Bernama hot news..

Work Starts On Vietnam-Cambodia Model Border Market

Last update: 16/01/2018

PHNOM PENH, Jan 16 (Bernama) -- Vietnam's Ministry of Industry and Trade and Cambodia's Commerce Ministry began the construction of a model border market along the two countries' shared border on Tuesday, Vietnam News Agency (VNA) reported.

Funded by the Vietnamese government, the US$2 million project covers an area of 20,000 sq meters in Da commune, Memot district in the Tbong Khmum province of Cambodia, which borders Vietnam's Tay Ninh province.

The market is expected to help promote Cambodia's trading potential and improve the living standards of people in the two localities in particular as well as other border localities of the two countries.

Addressing the groundbreaking ceremony, Vietnamese Ambassador to Cambodia Vu Quang Minh stressed the pilot project aimed to create a foundation for the development of a system of markets along the shared border in the future, towards further tightening the economic cooperation between the two countries.

For his part, Cambodian Minister of Commerce Pan Sorasak thanked the Vietnamese government for its provision of non-refundable assistance for the project, saying that this will contribute to realising the goal of US$5 billion in two-way trade.

Once completed, the market will serve as goods transshipment area between Cambodian provinces of Kratie, Kampong Cham, Rattanakiri, and Mondolkiri and Vietnamese localities.

Vietnam-Cambodia trade has recorded remarkable expansion recently. Two-way trade hit US$3.438 billion in the first 11 months of 2017, up 31.5 per cent year-on-year.

-- BERNAMA
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