Viet Nam and Cambodia vow to develop trade during visit

PHNOM PENH — Viet Nam and Cambodia should further develop co-operation in industry and trade and effectively implement signed bilateral and multilateral agreements and mutual development commitments to support regional and international integration.

The statement was made by Cambodian Prime Minister Hun Sen when receiving Viet Nam’s Minister of Industry and Trade Vu Huy Hoang in Phnom Penh on Monday.

On the same day, Minister Hoang was received by Deputy Prime Minister and Chairman of the Cambodian National Petroleum Authority Sok An.

Sok An expressed the need to strengthen co-operation between Viet Nam and Cambodia in industry and trade, especially in oil and gas exploration and exploitation. He affirmed that Cambodia was ready to boost oil and gas co-operation with foreign partners, including Viet Nam.

At a working session with Cambodian Minister of Industry, Mines and Energy Suy Sem, the two sides signed a memorandum of understanding on speeding up the construction of a 220kV transmission line between Viet Nam and Phnom Penh through the border Takeo Province as well as a 110kV power transmission system in the border Kompong Cham Province.

They also agreed to jointly implement projects in industry, mining and energy that are part of a co-operative programme approved at the 9 th session of the Viet Nam-Cambodia Intergovernmental Committee in Phnom Penh on August 21.

These include projects to build a hydropower plant on Se San River, establish a mineral exploitation joint venture and train labour for Cambodia.

Minister Hoang and Cambodian Minister of Trade Cham Prasit signed a memorandum of understanding stating that Viet Nam would allow Cambodia to enjoy tariff incentives and non-quota policies on 25 agricultural products.

The two ministers affirmed that two-way trade between Viet Nam and Cambodia would reach U$1 billion this year.

During its stay in Cambodia from November 4 to 6, the delegation worked with the Cambodia Development Council and attended the closing ceremony of the Viet Nam-Cambodia Trade Fair 2007 in Phnom Penh. — VNS