Cambodia, Vietnam to facilitate smooth cross-border trade activities
Cambodia, Vietnam to facilitate smooth cross-border trade activities
The General Department of Customs and Excise of Cambodia and Vietnamese Customs Administration Monday agreed to further strengthen the bilateral customs cooperation on managing and facilitating cross-border trade activities and transit goods.
A delegation from the General Department of Customs and Excise of Cambodia led by its Director-General Kun Nhim met with the Vietnamese Customs Administration led by its Director-General Nguyen Van Tho, in Hanoi on December 9.
The bilateral meeting aimed to enhance collaboration and cooperation in managing and facilitating cross-border trade activities and transit goods, according to a press release issued on December 10.
“Both delegations agreed to prioritize information exchange to assess the risks associated with exported, imported, or transited goods, as well as the means of transporting these goods across Vietnam,” read the statement.
They also agreed to focus on exchanging information to assess the risks of exported, imported or transited goods and means of transporting goods across Vietnam.
The move is expected to streamline customs procedures, reduce clearance times, and improve overall trade efficiency between the two neighboring countries.
The meeting also explored opportunities for further cooperation in areas such as customs capacity building, technical assistance, and joint initiatives to combat illicit trade and customs fraud.
The strategic move was made amid the bilateral trade between the two neighboring countries is on remarkable surge.
Cambodia-Vietnam trade volume reached $5.81 billion in the first three-quarter period of this year, up 21.9 percent from $4.77 billion in the same period in 2023.
Vietnam is the second biggest export market for Cambodia’s products, mainly raw materials of agricultural products.
Cambodia’s main exports to Vietnam include rice, rubber, cashews, cassava, corn, bananas, mangoes and tobacco.
