HANOI:Representatives of the private sector in Cambodia and Vietnam have called on customs authorities from both countries to simplify and streamline export procedures as a way of boosting trade.
Leng Rithy, president of Cambodia-based Granite Association, raised the issue during the 2017 Vietnam-Cambodia Trade and Investment Forum, which was held yesterday in Phnom Penh.
He said export procedures at the Cambodia-Vietnam border had recently become more complex and time-consuming, negatively affecting the operations of many exporters.
“Companies are now facing a lot of challenges at the border.
“Both governments have pledged to reach $5 billion a year in bilateral trade, but we can only achieve that goal if authorities on both sides of the border work closely together to improve the system and iron out inefficiencies.
“However, I don’t see this happening. I don’t see the customs authorities and the governments cooperating to address our concerns,” Mr Rithy said.
Nguyen Quoc Hung, CEO of Bank for Investment and Development of Cambodia, said that while certain paper-based procedures in Cambodia had been greatly simplified, in Vietnam they were still very inefficient and complicated.
“For example, transferring money from Cambodia is easy and fast, and we would like to see the same systems coming into place in Vietnam. We believe this will help accelerate business activity.”
Ho Sivyong, director general of the Export-Import Department at the Cambodian Ministry of Commerce, told the forum that the ministry had been working very closely with its Vietnamese counterparts to facilitate export procedures and boost trade, but agreed that more needed to be done to enhance cooperation and streamline the system.
Do Quoc Hung, representative of the Asia-Africa Market Department at the Ministry of Industry and Trade of Vietnam, reassured investors and traders that their concerns were taken seriously by both governments.
“There is a lot of potential for growth in the trade relation between Vietnam and Cambodia. There is more demand for our products here, and we are importing more and more Cambodian products such as cassava, corn, rubber and milled rice.
“Our bilateral trade is growing at a rate of 16 percent yearly. Cambodia is one of the countries where Vietnam is investing the most; one of the top five,” he added.
In 2016, trade between Cambodia and Vietnam reached $3.1 billion. Official estimates put that figure at $3.5 billion for 2017, a 31 percent increase.
