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Work starts on Vietnam-Cambodia model border market

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 January 16.

Funded by the Vietnamese Government, the 2-million-USD project covers an area of 20,000 sq.m in Da commune, Memot district in Tbong Khmum province of Cambodia, which borders Vietnam’s Tay Ninh province.
It is hoped 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  aims 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 5 billion USD in two-way trade.

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

Vietnam-Cambodia trade recently has recorded remarkable expansion. Two-way trade hit 3.438 billion USD in the first 11 months of 2017, up 31.5 percent year-on-year, and 2.7 percent higher than the figure of 2015.