Cambodia Seeks Standard for Carrying Cash Across CLV Borders

Cambodia has asked Vietnam and Laos to standardize the amount of cash citizens from each of the three countries can carry when they cross borders to $10,000 per person as part of efforts to boost trade in the so-called Development Triangle Area, an official said yesterday. The issue was discussed extensively on Tuesday during the three-day meeting on the Trade Promotion and Facilitation Agreement in the Cambodia-Laos-Vietnam (CLV) Development Triangle Area, said Youn Heng, director for evaluation of investment projects and incentives with the Council for the Development of Cambodia.

The meeting, which was the fourth round of negotiations on an agreement for trade promotion and facilitation was held in Vietnam’s Dak Lak province and ended yesterday. “The Cambodian side asked for the limit to be $10,000 for each person crossing the border,” Mr. Heng wrote on his Facebook page, pointing out that this was a global standard. Vietnam has set a maximum of $5,000, while Laos allows people to carry up to $12,000 across its borders.

Mr. Heng told Khmer Times yesterday that the lower maximum in Vietnam had led to arrests of Cambodians who sell cows in Vietnam and return with more than $5,000. He said the issue was still being negotiated. “We will try to find a solution. However, there are a lot of things to reach agreement on,” he said.

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