Prime Minister Nguyen Tan Dung’s visit to Cambodia and his co-chairing the second Vietnam-Cambodia investment promotion conference on April 23 and 24 is expected to accelerate bilateral trade and investment ties.
The relationship between Vietnam and Cambodia has developed in various fields since the establishment of diplomatic ties on June 24, 1967. Bilateral cooperation mechanisms including the Vietnam-Cambodia Joint Commission for Economic, Cultural, Scientific and Technological Cooperation, the Conference on the development and cooperation of border provinces and the Joint Border Committee meet annually and have brought practical results. The regular exchange of the two countries’ delegations, especially the recent visits by the two countries’ leaders, have helped fasten the fine neighbouring relationship, traditional friendship and long-term sustainable comprehensive cooperation between the two countries.
Two-way trade has increased from 1.33 billion USD in 2009 to 1.8 billion USD in 2010. Vietnam has almost 90 investment projects with a combined capital of more than 2 billion USD in Cambodia . These projects involve in rubber plantation, mining, oil and gas exploration, power supply development, telecom, finance and banking. The two countries have shown their keen interest in promoting bilateral ties in education and training, energy-power, healthcare and transport.
Both countries’ leaders have affirmed their determination to complete land demarcation and landmark erection in 2012 in order to build a common border of peace, stability, cooperation and development in line with the two peoples’ traditions and customs.
Vietnam and Cambodia have also accelerated bilateral cooperation between border provinces in education, healthcare, culture, science and technology. The two nations have successfully held the Conference on the development and cooperation of the Cambodia-Vietnam border provinces at the deputy prime minister level and the Vietnam-Cambodia border trade development conference at the level of industry and trade/trade minister.
Furthermore, the two nations have promoted cooperation within the framework of regional and international cooperation such as the Mekong River Commission (MRC), the Greater Mekong Sub-region (GMS), the Ayeyawady-Chao Praya-Mekong Economic Cooperation Strategy (ACMECS), Cambodia-Laos-Myanmar-Vietnam (CLMV), and the Cambodia-Laos-Vietnam Development Triangle (CLV).
PM Dung’s upcoming visit to Cambodia aims to affirm Vietnam ’s consistent policy of attaching importance to enhancing its relations with Cambodia and the determination of the Vietnamese Government and people to join the Cambodian Government and people in bringing their bilateral ties to a new height for mutual interest.
Both sides are expected to review the investment cooperation results since the first Vietnam-Cambodia investment promotion conference, discuss solutions and policies to boost investment, trade and tourism cooperation and sign a number of cooperation documents.
Around 100 Vietnamese businesses are expected to be present at the second Vietnam-Cambodia investment promotion conference. PM Dung is scheduled to attend the opening ceremony of the Cambodia-Vietnam Securities Joint Stock Company (CVS) and the handover of overseas investment licences to Vietnamese businesses./.