The 16th meeting of the Vietnam - Cambodia Joint Committee on Economic, Cultural and Scientific-Technological Cooperation took place in Hanoi on May 17 with Deputy Prime Minister and Foreign Minister Pham Binh Minh and Cambodian Minister of Foreign Affairs and International Cooperation Prak Sokhonn in the chair.
The two countries have organized numerous meaningful activities in the 2017 Friendship Year which marked the 50th anniversary of diplomatic relations, maintained high-level delegation exchange, and bilateral cooperation mechanisms between ministries, sectors and localities, and achieved remarkable progress in border demarcation and marker planting.
Currently, 84% of land border demarcation and marker planting work has been completed. The two sides are of full determination to finish the work soon so as to build a shared border of peace, friendship, cooperation and sustainable development.
Economic cooperation between the two countries has yielded good results with bilateral trade turnover in 2017 reaching about US$ 3.8 billion, up more than 25% over 2016. Vietnam has had 196 investment projects in Cambodia with a total registered capital of US$2.94 billion, primarily focusing on agriculture and forestry. Vietnam is among the top five countries with the highest level of foreign direct investment (FDI) in Cambodia. Cambodia has run 18 projects in Vietnam with a total investment capital of US$ 58.12 million.
Both sides have worked hand in hand to enhance connectivity in economics and transport. In July last year, they finalized negotiations on a memorandum of understanding on the Vietnam-Cambodia transportation cooperation strategy in the 2018-2025 period with a vision for 2030.
They inaugurated a bridge connecting Long Binh (An Giang) and Chrey Thom (Kandal) in April 2017, while opening to traffic the Le Thanh (Gia Lai) - Oyadav (Rattanakiri) border gate in July 2017.
The two sides discussed major orientations and specific measures to further expand and deepen the bilateral partnership. They consented to step up cooperation in personnel training and offer the best possible conditions for economic, trade and investment relations.
They concurred to bolster coordination in security-defence, transport infrastructure development, industry-mining-energy, agro-forestry-fisheries, information and communications, health care, labour, social affairs, religion, culture, sports and tourism, and environment. The two countries will go ahead with reinforcing ties among localities and within the framework of the Cambodia-Laos-Vietnam triangle development.
They pledged to manage the shared border in line with already signed treaties and agreements, while working closely to fulfill the target of legalising the completed work in border demarcation in 2018, and continue seeking proper solutions to finish the remaining work.
Cambodia agreed to continue measures to ensure the legitimate rights of overseas Vietnamese in Cambodia.
They are in agreement on realizing the mid-term review mechanism to ensure the effective implementation of reached agreements.
After the meeting, the two ministers signed the minutes of the meeting and agreed that the next meeting of the committee is set to be held in Cambodia in 2019.