Dec 25, 2019 / 12:07

1st Vietnam-Cambodia border market opens

The Hanoitimes - The market is seen as an important place to exchange goods amid rising bilateral trade.

A Hanoi-funded US$2 million border market in Cambodian Tboung Khmum province became operational on December 24, aiming to boost the bilateral trade.

 Da market costs an investment of US$2 million from Vietnam’s non-refundable aid. Photo: VNA

Cambodia’s Prime Minister Hun Sen presided over the inauguration ceremony together with Vietnam’s Deputy Prime Minister Trinh Dinh Dung.

“Da Market”, Cambodia’s first-ever border market occupies two hectares of land in the Thary Tbaung Khmum Special Economic Zone, about one kilometer from the nearest Cambodia-Vietnam border crossing.

The construction of the market, which was first proposed in 2013, kicked off in January 2018. It is opposite to Vietnam’s Chang Riec border gate in Tan Bien district of Tay Ninh province.

 Vietnam’s Deputy Prime Minister Trinh Dinh Dung and Cambodia’s Prime Minister Hun Sen at the inauguration ceremony on Dec 24. Photo: VNA

The Khmer Times quoted Hun Sen as saying that the market is located at the site of a battle that took place in 1971, adding that Cambodia is seeking a “win-win approach” by turning areas along borders into development or trade hubs.

Mao Thora, secretary of state of Cambodia’s Ministry of Commerce, said the market will help facilitate trade between Cambodia and Vietnam. “It will also play a role in reducing poverty on both sides of the border and help traders build bigger networks,” he said, adding that Vietnamese traders will mostly sell processed foods, while Cambodia will focus on agricultural products.

Vu Quang Minh, the Vietnamese ambassador to Cambodia, previously said the project aims to build up trade infrastructure in the border to promote economic and trade exchanges and raise the living standards of locals.

Minh said it is a place to buy, sell, exchange, and transit goods produced in Kratie, Kampong Cham, Rattanakiri and Mondulkiri to meet demand in Vietnam.

Vietnam-Cambodia trade reached US$4.7 billion in 2018, increasing 24% on-year. The figure is expected to hit US$5 billion this year.