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Friday, November 15, 2024

Cau Treo border gate sees 47% drop in trade

By Truc Dao

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HCMC – Trade through the Cau Treo international border gate in Ha Tinh Province in the year to August 20 had decreased by 47% year-on-year, according to the local customs authority.

Data from the Cau Treo customs office showed a total trade volume of over US$149 million since the beginning of the year. While exports increased by 12%, imports plummeted by 62% compared to the same period last year.

This significant decline in trade has resulted in a sharp drop in budget revenue, with the border gate generating over VND140 billion, down by more than 69% year-on-year. This figure represents only 25% of the 2024 target.

Transport companies have attributed the decline to infrastructure issues on National Highway 8 in Laos, including damage and landslides, which have limited vehicle weight and reduced operating capacity to 20% of previous levels. As a result, many firms have rerouted shipments to other border gates.

In response, Cau Treo customs officials plan to continue administrative reforms and extend working hours to support businesses. They are also advising provincial and customs authorities on strategies to address the landslide-affected route.

Additionally, since the start of the year, the Cau Treo border guard station has detected six drug-related cases involving 14 suspects. Customs officials have handled two smuggling cases and imposed administrative penalties in 13 incidents. Border patrols have been intensified to prevent smuggling and illegal transport along the border.

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