Cambodia, Laos, Vietnam Set up Economic Association

The Cambodia-Laos-Vietnam Association for Economic Cooperation Development made its official debut in Hanoi on May 6.

The voluntary association aims to boost support among members and raise the efficiency of economic and investment cooperation between member countries.

It will also gather members' opinions on strategies and policies relating to economic and investment cooperation.

Beginning operation in August last year, the association now has 500 members. Under its five-year action plan, the association will organize forums and fairs and provide opportunities for members to exchange experiences and information on economic and investment cooperation.

The association plans to implement consultancy and legal assistance services for enterprises following the three countries' local and international law.

Cambodia and Vietnam agreed to support enterprises investing in specific economic fields and boost economic cooperation between border provinces.

In 2006-07, the value of goods exchanged between the two countries increased 30 percent. Last year, Cambodia earned US$202 million from exports to Vietnam and imports came in at US$991 million.

Trade between the two countries is expected to reach US$2 billion by 2010.

Vietnam's direct investment in Cambodia reached US$90 million last year, while Cambodian enterprises invested US$5.2 million USD in Vietnam.

As members of the Association of Southeast Asian Nations (ASEAN), Cambodia, Laos and Vietnam have also boosted cooperation and support within regional and international frameworks.

INDEX:

Prime Minister’s Keynote Address on the People's Prosperity through the Achievements from the Implementation of the Rectangular Strategy by the Royal Government 2004-2007 at the National Conference on 29 May 2008.

Deputy Prime Minister Meets Cambodian Diplomats

UK to setup Consulate in a Famous Temple Province of Cambodia

An Island of Sihanoukville will be an International Recreation Center

Royal Cambodian Armed Force Officers Depart For Sudan

Cambodia, Laos, Vietnam Set up Economic Association