Cambodia, Lao PDR, and Vietnam  (CLV) has signed Agreement on Trade Promotion and Facilitation For Cambodia, Lao PDR, Vietnam Development Triangle Area at the 9th CLV Development Triangle Area (DTA) Summit in Siem Reap, Cambodia. This government was sign by H.E. Pan Sorasak, Cambodian Minister of Commerce, H.E. Saleumxay Kommasith, Lao Minister of Foreign Affairs, and H.E. Nguyen Chi Dung, Vietnamese Minister of Planning and Investment.

The agreement aims to (1) enhance trade promotion activities; (1) create friendly business environment; (3) facilitate the movement of people, vehicles and goods among parties; and (4) create favorable conditions for the stimulation of trade and investment flows in the Cambodia-Lao PDR-Vietnam Development Triangle Area. Lao PDR’s international checkpoints concluded under this agreement are Nong Nokkhien in Champasak province (connect with Cambodia) and Phuekuea in Attapeu Province (connect with Vietnam).

As for the trade promotion, parties to this agreement are agreed to hold at least one international trade fair or exhibition each year in the triangle area. Moreover, the parties also agree to strengthen the quality of management of cross-bordered goods among provinces; encourage barter trade methods; promote imports, exports, and border trade in order to promote the exchange of goods among provinces in the CLV DTA.

As for trade in goods, member parties are agreed to enhance the import-export activities in accordance with the respective laws and regulations of each country and international practices. The trade principals are to ensure transparency and accountability in customs procedures and SPS measures to facilitate trade through accelerating the process of customs clearance for import and export activities in the customs clearance for import and export activities in the CLV DTA in accordance with the respective laws and regulations of each country and international practices.

With respect to other trade facilitation activities, the agreement states that Parties shall comply with the Agreement on Trade Facilitation in the WTO (WTO ATF) and other agreements in which Cambodia, Lao PDR and Vietnam are parties to.

For the implementation in Lao PDR, relevant sectors in central and in 4 provinces in development triangle area (Xekong, Attapeu, Saravanh amd Champasak) will coordinate to create detailed plan in order to ensure effective implementation.

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