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|Illustrative image (Source: VNA)|
Meanwhile, Cambodia has poured 65 million USD into 19 projects in Vietnam.
Vietnam is now the third largest trade partner of Cambodia. Two-way trade hikes 9.8 percent on average each year.
In 2018 alone, it surpassed 4.7 billion USD, up nearly 24 percent year-on-year. Of the figure, 3.7 billion USD was Vietnam’s exports to Cambodia.
According to the tax reduction roadmap under the ASEAN Trade in Goods Agreement (ATIGA), almost all exports-imports between Vietnam and Cambodia are eligible to a 0-5 percent tariff.
The double taxation avoidance and tax evasion agreement between Vietnam and Cambodia, which took effect on February 20, will be applied in the two nations in early 2020.