Vietnam: Trade transactions with Cambodia increased sharply

Published 2022년 11월 9일

Tridge summary

Cambodia has become a major supplier of raw materials, including cashew nuts, to Vietnam, leading to economic benefits for both countries. In 2021, Cambodia exported approximately 1 million tons of raw cashew nuts to Vietnam, making it the largest supplier of cashew raw materials. This partnership is beneficial for Vietnam as it faces a shortage of raw materials for its cashew industry. Additionally, Vietnam is the largest consumer of Cambodian pepper, with an annual output increasing from 15,000 to 16,000 tons. The trade between the two countries has seen a significant increase, with Vietnam's exports to Cambodia reaching nearly 4.94 billion USD as of October, an increase of 25.6% over the same period last year.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

In the past few years, Cambodia has become the main raw material area for many Vietnamese processing and export enterprises, bringing economic benefits to both countries. In the opposite direction, Vietnam's exports to Cambodia also skyrocketed. Supplying millions of tons of cashew nuts to Vietnam At the end of 2017, Mr. Nguyen Duc Thanh, then the Chairman of the Vietnam Cashew Association (Vinacas), led the business delegation (DN) to promote trade for the first time. in Cambodia. The work program at that time was the key to building a raw material area of 1 million tons of cashew in Cambodia. Recalling that time, Mr. Nguyen Duc Thanh said: “From 2014 onwards, Cambodia only sold about 30% of the cashew nut production it harvested to Vietnam. Although the quality was relatively good, the output of Cambodian cashew was not much at that time, so the main raw cashew suppliers for Vietnam were still African countries. However, there is a huge risk for Vietnamese businesses that the ...

Source: Vinacas