Vietnam, Cambodia willing to boost cooperation

Vietnam and Cambodia should further develop cooperation in industry and trade as well as 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 Vietnam ’s Ministry of Industry and Trade Minister Vu Huy Hoang in Phnom Penh on November 5.

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

Deputy PM Sok An expressed the need to strengthen cooperation between Vietnam and Cambodia in industry and trade, especially in oil and gas exploration and exploitation. He affirmed that Cambodia is ready to boost oil and gas cooperation with foreign partners, including Vietnam .

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 Vietnam and Phnom Penh through border Takeo province as well as a 110kV power transmission system in border Kongpong Cham province.

They also agreed to jointly implement projects in industry, mines and energy that are part of a cooperative programme approved at the 9 th session of the Vietnam-Cambodia Intergovernmental Committee in Phnom Penh on August 21, 2007.
This includes 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 on understanding in which Vietnam allows Cambodia to enjoy tariff incentive and non-quota policies on 25 agricultural products.

The two ministers affirmed that two-way trade between Vietnam and Cambodia will reach 1 billion USD this year.

During its stay in Cambodia from November 4-6, the delegation will work with the Cambodia Development Council (CDC) and attend the closing ceremony of the Vietnam-Cambodia Trade Fair 2007 in Phnom Penh