Vietnam, Cambodia seek ways to bolster economic, trade ties

Vietnam, Cambodia seek ways to bolster economic, trade ties

Vietnamese Minister of Industry and Trade Nguyen Hong Dien met with Cambodian Minister of Commerce Cham Nimul on April 28 to discuss orientations for bolstering economic and trade ties between the two nations.

At the event, both ministers expressed satisfaction with the substantive achievements in Vietnam—Cambodia economic and trade cooperation over the recent past while underscoring the significance of economic and trade partnerships as a pillar of bilateral relations.

Boasting a long-standing friendship, an effective inter-ministerial cooperation mechanism, and complementary import-export structures, the two countries eye $20 billion in bilateral trade in the coming time, Dien said, stating that their trade is not only growing in volume but also improving in quality, with diverse cooperation models, modern distribution channels, and dynamic participation from young entrepreneurs, especially in technology and e-commerce sectors.

While acknowledging progress in border trade, he pointed out that several challenges remain that require joint coordination to resolve. He suggested promoting trade programmes in a professional manner, helping address businesses’ practical needs, capitalising on each country’s market potential, and boosting balanced and sustainable bilateral trade.

The Cambodian official concurred with Dien’s assessment and proposed establishing a Vietnam—Cambodian bilateral trade cooperation committee. Staff from both ministries would coordinate to outline a detailed implementation plan.

She said Cambodia will also study to carry out several projects in border economic zones, creating more favourable conditions for bilateral trade and investment.

The two ministers discussed specific measures to enhance economic and trade cooperation and agreed on several major directions for the future. These include accelerating the development of logistics infrastructure and distribution networks in border areas, rapidly transitioning from unofficial to official trade channels, and continuing strong coordination to combat smuggling and trade fraud in border regions.

The ministers also agreed to work closely on trade promotion programmes and business networking while enhancing information sharing and technical cooperation at the expert level to strengthen mutual understanding and minimise future trade remedies or unnecessary disputes.Following the talks, on behalf of the countries’ Governments, the two ministers inked an agreement on promoting Vietnam—Cambodia trade for the 2025–2026 period. This agreement provides preferential tariffs for many competitive goods from each side, much more favourable than those under the ASEAN Trade in Goods Agreement (ATIGA).

Last year, total bilateral trade reached $10.1 billion, a 17.5 percent increase from the previous year. This reversed the previous year’s downward trend and demonstrated a positive and sustainable recovery amidst global economic fluctuations.

In the first quarter of 2025, trade revenue between the two countries was $3.2 billion, up 10.2 percent year-on-year. Vietnam’s exports to Cambodia were $1.3 billion, and imports were $1.9 billion.

Vietnam is currently Cambodia’s third-largest trading partner globally, trailing China and the US, and the latter’s largest trading partner within ASEAN. Meanwhile, Cambodia is Vietnam’s fourth-largest trading partner in the bloc. 

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