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Agricultural options eyed in Cambodia

Update: December, 17/2012 - 10:50

 

A cashew crop gets a drink at Binh Phuoc Province's Agricultural Expansion Centre which supplies Cambodia. Cambodian and Vietnamese companies gathered in Phnom Penh to explore agricultural opportunities in both countries. — VNA/VNS Photo Hoang Tuan
PHNOM PENH (VNS)—Representatives from over 100 Cambodian and Vietnamese companies gathered in Phnom Penh to seek agricultural investment opportunities between the two countries.

Representatives from over 100 Cambodian and Vietnamese companies gathered in Phnom Penh to seek agricultural investment opportunities between the two countries.

Participants listened to reports on trade and co-operation opportunities in agriculture, forestry, aquaculture and seafood, delivered by representatives from both governments.

They discussed Viet Nam's production capacity, supply of machinery, equipment and materials in agro-forestry and aquaculture, as well as investment between the two countries.

Cambodian Secretary of State for Trade, Mao Thora, spoke highly of the Vietnamese Ministry of Industry and Trade's initiative to hold the "Viet Nam-Cambodia Agriculture Cooperation Exchange Forum" and the meeting on agro-forestry-aquaculture trade between both countries' firms.

They help raise the value of two-way trade between Viet Nam and Cambodia , Thora said. It is an opportunity for both countries' businesses to seek investment partners, and for state management agencies to get feedback on agricultural investment and co-operation challenges, added Thora.

Vietnamese Deputy Minister of Industry and Trade, Ha Cong Tuan, said apart from offering businesses the chance to increase market understanding and assess their co-operation capacity, the events are expected to help companies approach future expansion.

Viet Nam-Cambodia bilateral trade has grown by an average of 32.5 per cent over the last ten years. While in 2011, the value of trade was US$2.8 billion, representing an increase of 55 per cent on the previous year.

Viet Nam's exports to Cambodia are primarily fertilisers, mechanical tools, seafood, vegetables and food.

Cambodian exports mainly consist of timber, rice, sliced cassava, cashew nuts and rubber latex.

Also in Phnom Penh , 37 Vietnamese firms displayed their agricultural and forestry products and seafood at an import-export fair held by the Cambodian Ministry of Trade on December 15.

The four-day expo, the seventh of its kind, drew participation from more than 200 companies representing 20 nations. — VNS

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