Việt Nam, Cambodia step up trade cooperation, eyeing 20 billion USD milestone

Việt Nam, Cambodia step up trade cooperation, eyeing 20 billion USD milestone

With a clear strategy and strong business engagement, economic cooperation will remain a highlight of the two countries’ ties.

The trade promotion conference held by the Vietnamese Ministry of Industry and Trade in collaboration with the Cambodian Ministry of Commerce in An Giang province on Friday. — VNA/VNS Photo

The Vietnamese Ministry of Industry and Trade (MoIT) and Cambodia’s Ministry of Commerce co-organised a trade promotion conference in An Giang Province on Friday to boost economic ties and work toward a US$20 billion trade target.

According to the MoIT, the friendship and cooperation between Việt Nam and Cambodia have been reinforced across all fields over the recent past. Notably, collaboration in economy, trade and investment has made remarkable strides, helping elevate the relationship to a trusted, stable and sustainable partnership.

Last year, total trade between the two countries reached approximately $10.2 billion, a 3 per cent increase from 2023. In the first eight months of 2025, the figure already approached $8 billion.

Director of the MoIT’s Trade Promotion Agency Vũ Bá Phú said that Việt Nam is among the top five foreign investors in the neighbouring country, with over 210 valid projects worth more than$ 2.9 billion. Vietnamese investment focuses on agriculture, energy, building materials, border trade and logistics.

Upgraded transport infrastructure, seaports and border economic zones in Việt Nam have also facilitated trade connectivity with Cambodia and other ASEAN markets, he noted.

Phú affirmed that bilateral economic and trade cooperation not only delivers tangible economic benefits but also reflects their enduring friendship, sustainable cooperation and mutual development. With strategic vision, an increasingly favourable trade and investment environment and proactive engagement from businesses on both sides, economic cooperation will continue to be a bright spot in the comprehensive relationship between the two countries.

Over the years, the two ministries have closely coordinated to organise trade and investment promotion programmes such as Vietnamese goods fairs in Phnom Penh, business-to-business networking events, and border trade and investment forums. These efforts have expanded market access, increased trade flow, and strengthened mutual understanding among enterprises, thereby promoting sustainable production and business linkages aligned with regional and global integration trends. 

The trade promotion conference held by the Vietnamese Ministry of Industry and Trade in collaboration with the Cambodian Ministry of Commerce in An Giang province on Friday. — VNA/VNS Photo

Undersecretary of State of the Cambodian Ministry of Commerce Tith Rithipol laid stress on the robust friendship between the two countries, stating that enhanced trade and investment ties play a crucial role in driving economic growth and improving people’s livelihoods in both countries.

He called on the Vietnamese businesses to invest more in Cambodian sectors with growth potential and high added value such as automotive manufacturing, modern agriculture, food processing, electronics, digital technology, fintech, tourism, education, transport, logistics and the creative industries.

Participants in the conference discussed the growing opportunities for Việt Nam – Cambodia economic cooperation amidst global shifts towards digital transformation, green development and regional value chain integration.

To seize these opportunities, they suggested stronger reform in trade promotion, balancing traditional and digital approaches to create a more flexible, effective and sustainable platform.

Business communities on both sides recommended that management agencies continue to refine institutions, simplify procedures, improve the investment climate and strengthen coordination in managing border gates and trade.

Leaders from border provinces emphasised the importance of digital transformation and cross-border e-commerce, while stressing the need for harmonious development of border transport and logistics infrastructure, particularly in An Giang, Tây Ninh and Long An, which are identified as critical nodes in developing the Việt Nam – Cambodia supply chain.

The MoIT announced plans to work with the Cambodian ministry and southern localities to pen a joint action plan for 2025–27, as well as support businesses with market information, trade capacity improvement and e-commerce and logistics development.

It will also consider carrying out an annual Việt Nam – Cambodia trade promotion programme, trade weeks, expos, and business forums in Phnom Penh, An Giang and HCM City, in pursuit of the $20 billion trade target.

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