Việt Nam, Cambodia strengthen trade cooperation

Việt Nam, Cambodia strengthen trade cooperation

Việt Nam and Cambodia have reaffirmed their commitment to deepening economic and trade ties at a workshop held on June 20 in Phnom Penh.

Representatives from Việt Nam and Cambodia meet on the sidelines of the workshop held on June 20 in Phnom Penh. — VNA/VNS Photo Quang Anh

Việt Nam and Cambodia have reaffirmed their commitment to deepening economic and trade ties at a workshop held on June 20 in Phnom Penh.

The event, organised by the Cambodian Ministry of Commerce in collaboration with the Vietnamese Trade Office in Cambodia, aimed to foster business connections, explore new investment opportunities, and promote bilateral trade.

Government officials and more than 60 representatives from associations and businesses of the two countries attended the event.

In his opening speech, Under Secretary of State of the Cambodian Ministry of Commerce Tith Rithipol highlighted the event as a sign of the two nations' determination to enhance trade relations and achieve mutual benefits. He noted that Cambodia and Vietnam shared long-standing cooperation, rooted in both historical ties and a shared vision for sustainable economic partnership within ASEAN.

He emphasised that the workshop provided an important platform for identifying new opportunities, addressing common challenges, and enhancing cooperation in key areas such as agriculture, agro-processing, logistics, and supply chain development.

Given the changing global dynamics, he highlighted the significance of regional collaboration in creating efficient cross-border trade networks, improving transport infrastructure, and adding value to agricultural production—all of which directly affect the livelihoods of rural communities.

Rithipol encouraged businesses from both sides to study market needs more closely and develop products tailored to real demand.

Chairman of the Vietnam–Cambodia Business Association (VCBA) Oknha Leng Rithy described the workshop as a crucial step toward unlocking the full potential of bilateral trade and investment.

He noted that in the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed US$3 billion, marking a 7 per cent increase compared to the same period in 2024. He expressed confidence that this figure would continue to grow with strengthened business connections.

He also highlighted Việt Nam’s status as one of Cambodia’s top five foreign investors, with more than 200 projects worth nearly $3 billion. He pointed to major opportunities for Vietnamese businesses to expand into sectors such as agriculture, tourism, industry, and technology.

Vietnamese enterprises, he added, played an important role in Cambodia’s economic development by creating jobs, supporting social stability, and contributing to infrastructure development in border areas. The two countries also worked together to upgrade border gates, improve customs management, and combat smuggling. These efforts were aimed at creating a fairer and more transparent business environment.

In April 2025, Việt Nam and Cambodia signed a bilateral trade promotion agreement for the 2025–2026 period, with the goal of reaching a total trade turnover of $20 billion in the coming years, a target set by leaders of both countries.

Rithy outlined several key priorities for future cooperation, including boosting cross-border trade, producing goods that meet quality standards, and jointly developing transportation and logistics infrastructure to reduce operational costs and enhance competitiveness.

At the event, representatives of Vietnamese enterprises and Cambodian companies and associations presented and introduced their business activities, creating favourable conditions for parties to connect and explore investment and cooperation potential, contributing to strengthening trade partnership between the two countries.

On this occasion, enterprises also displayed and introduced their typical products. 

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