Vietnam, Laos, Cambodia discusses measures to boost border trade

A delegate speaking at the conference (Photo: VNA)

The 12th conference on trade, investment and tourism promotion for the Cambodia-Laos-Vietnam development triangle area took place in Cambodia on March 9, during which delegates discussed measures to remove barriers to trade among the 13 provinces sharing border lines between the three countries.

The conference is part of the 12th meeting of the Joint Coordination Committee on the Cambodia-Laos-Vietnam Development Triangle Area (JCC CLV DTA) that will open on March 10.

Vietnamese Ambassador to Cambodia, Vu Quang Minh, and representatives from the five provinces of Dak Nong, Dak Lak, Gia Lai, Kon Tum and Binh Phuoc discussed issues and difficulties after the 10-year establishment of the CLV development triangle area.

Vietnam currently has 116 projects with a total registered capital of nearly US$4 billion within the triangle area (accounting for 23.1% of the total Vietnamese projects in Laos and Cambodia).

Border trade between Vietnam, Laos and Cambodia have seen positive strides in the past few years but there remain inadequacies including administrative procedures at border gates, changes in import-export policies, poor infrastructure regarding payment and banking services, and poor transport infrastructure, among others.

According to Deputy Director of Foreign Investment Agency under the Ministry of Planning and Investment, Vo Van Chung, 13 provinces in the triangle area should reconsider the aforementioned difficulties and need to make joint efforts to avoid the risk of lagging behind.

The Cambodia-Laos-Vietnam Development Triangle Area was established by the Governments of the three countries in 1999 with the aim of strengthening the solidarity and cooperation among the three countries and ensuring security, political stability, and poverty reduction, as well as promoting socio-economic development in the area./.

NDO