Cambodia, Laos agree to deepen trade cooperation

Cambodia, Laos agree to deepen trade cooperation

Both sides also concur to give new impetus to investment, agriculture, energy, transport connectivity, border affairs, security, and combating transnational crimes, including human trafficking and online fraud.

Cambodia and Laos Saturday agreed to boost cooperation between the two neighbouring countries to reach a new high of bilateral trade, facilitating investment and business activities, and goods-crossing-border transportation.

The commitment was made during a meeting between Prime Minister Hun Manet and his Lao counterpart Sonexay Siphandone in Phnom Penh.

The two leaders praised the steady progress of bilateral relations under their comprehensive strategic partnership and urged relevant ministries to work closely to deliver tangible benefits to the people of both countries.

Discussions also focused on expanding cooperation in trade, investment, agriculture, energy, transport connectivity, border affairs, security, and combating transnational crimes, including human trafficking and online fraud.

Both sides highlighted the importance of improving transport infrastructure to facilitate cross-border trade and regional connectivity. This will allow Cambodia to transport agricultural products to a third country by passing via Laos. Similarly, Laos can also consider Cambodia as a transit point for goods to international markets by passing through Cambodia and using seaports, in line with the strategy to transform Laos from a landlocked country to a land-linked country.

Earlier on Friday, Prime Minister Hun Manet on social media wrote, “In bilateral cooperation, the two prime ministers highly valued the development of relations at all levels in the past, in line with the comprehensive and long-term strategic partnership, and urged the relevant ministries and institutions of the two countries to continue to work closely to achieve tangible results for the people of both countries.”

The two leaders also agreed to boost bilateral trade to reach the target of $700 million by 2030.

Marking the 70th anniversary of diplomatic relations in 2026, both sides agreed to organise activities and promote high-level exchanges, including upcoming state visits by senior leaders, to further strengthen political and diplomatic ties.

Official figures from the Ministry of Commerce showed that the bilateral trade between Cambodia and Lao PDR was valued at $240 million last year, inching down 6 percent from a year before.

khmertimeskh