Within the framework of the visit, on the afternoon of April 28, 2025, at the headquarters of the Ministry of Industry and Trade , Minister Nguyen Hong Dien had a meeting with Cambodian Minister of Commerce Cham Nimul to discuss orientations to promote economic and trade cooperation between the two countries, and together signed the Agreement on promoting bilateral trade between the Government of Vietnam and the Government of Cambodia for the period 2025-2026.
Attending the meeting, on the Vietnamese side, there were representatives of the leaders of specialized units under the Ministry of Industry and Trade such as the Department of Foreign Market Development, the Department of Domestic Market Management and Development, the Department of Import and Export, the Department of Trade Promotion, the Department of Trade Defense, the Department of Multilateral Trade Policy, the Ministry Office... On the Cambodian side, attending the meeting with Minister Cham 2 Nimul were the Secretary of State of the Ministry of Commerce of Cambodia, representatives of the leaders of relevant departments and functional departments of the Ministry of Commerce of Cambodia. At the meeting, the two Ministers expressed their joy and appreciation for the substantial results achieved in economic and trade cooperation between Vietnam and Cambodia in recent times. The two Ministers emphasized and affirmed the importance of economic and trade cooperation, considering it a pillar in the orientation to promote the relationship between Vietnam and Cambodia.
Minister Nguyen Hong Dien affirmed that the two countries have a long-standing friendship, a close and effective inter-ministerial cooperation mechanism, and potential to complement each other in the structure of import and export goods. The two countries' senior leaders have agreed to set a target of increasing bilateral trade turnover to 20 billion USD in the coming time. This target is very challenging, but both sides have the basis to implement and complete it. The Minister also expressed his joy that Vietnam - Cambodia bilateral trade is not only growing in scale, but is also gradually changing in quality, with the emergence of more and more new cooperation models, modern distribution channels and the dynamic participation of young businesses, especially in the fields of technology and e-commerce. Trade promotion and business connection activities have been continuously maintained and effectively promoted, contributing to expanding the market and creating momentum to promote economic and trade cooperation.
Minister Nguyen Hong Dien stated that trade, especially border trade between the two countries, has recorded many advances, but is still facing a number of difficulties that need to be resolved by the two sides in the coming time. At the same time, the Minister said that it is necessary to promote trade programs in a professional, in-depth manner and closely linked to the practical needs of businesses, thereby effectively exploiting the market potential of each side and promoting the even and sustainable development of bilateral trade.
Fully agreeing with the opinions of Minister Nguyen Hong Dien, Minister Cham Nimul expressed her sincere thanks to Minister Nguyen Hong Dien and the Ministry of Industry and Trade of Vietnam for organizing a respectful and effective working session. The Minister emphasized that this visit is an important opportunity for the two sides to promote economic and trade cooperation, enhance exchanges on major cooperation orientations in the new period, and at the same time send warm congratulations to the Government and people of Vietnam on the occasion of the Southern Liberation Day (April 30). In addition, Minister Cham Nimul announced that Cambodia will organize a number of international fairs and exhibitions and respectfully invite Vietnamese enterprises to attend, in order to enhance trade exchanges and connect businesses of the two sides. To further enhance the effectiveness of cooperation, the Minister proposed that the two sides consider establishing a Vietnam - Cambodia Bilateral Trade Cooperation Committee, and assign experts of the two ministries to coordinate specifically and develop a detailed implementation plan. In addition, Cambodia will study and implement a number of projects in border economic zones, promote the exchange of goods at border gates, contribute to creating more favorable conditions for bilateral trade and investment, and connect businesses of the two countries.
Based on the assessment of existing problems and difficulties, the two Ministers had very specific discussions on a number of measures to promote economic and trade cooperation, agreeing on a number of major orientations for the coming time. Accordingly, the two sides focused on accelerating the completion of logistics infrastructure and distribution networks in border areas; quickly and strongly shifting informal trade to official trade; continuing to coordinate vigorously to combat smuggling and trade fraud in border areas between the two countries; closely cooperating in trade promotion programs, connecting businesses; enhancing information sharing, promoting technical cooperation at the professional level to enhance mutual understanding and minimize the application of trade defense measures or unnecessary disputes in the future.
After the meeting, authorized by the two governments, Minister Nguyen Hong Dien and Minister Cham Nimul signed the Agreement on promoting bilateral trade between the Government of the Socialist Republic of Vietnam and the Government of the Kingdom of Cambodia for the period 2025-2026.
This is an important legal document of great significance to the business communities of the two countries as it provides preferential tariffs for many goods with strengths of each side, more preferential than the ASEAN Trade in Goods Agreement (ATIGA).
Currently, the world economy is still facing many difficulties and challenges, and Vietnam - Cambodia bilateral trade is no exception. Therefore, the two sides continuing to sign the Agreement for the 2025-2026 period is extremely necessary and strategic, helping Vietnam and Cambodia to more effectively exploit the complementarity of the two economies, tighten the supply chain connection, develop balanced, sustainable bilateral trade and commensurate with the scale and potential of cooperation between the two countries.
In 2024, total bilateral trade turnover will reach 10.1 billion USD, up 17.5% compared to 2023, reversing the downward trend of the previous year and demonstrating a positive and sustainable recovery in the context of many fluctuations in the global economy. In the first quarter of 2025, two-way trade turnover will reach 3.2 billion USD, up 10.2% over the same period. Of which, Vietnam's exports to Cambodia will reach 1.3 billion USD (up 9.3%) and imports will reach 1.9 billion USD (up 10.9%). Vietnam is currently Cambodia's third largest trading partner in the world (after China and the US) and Cambodia's largest trading partner in ASEAN. In contrast, Cambodia is Vietnam's fourth largest trading partner in ASEAN.
Source: https://moit.gov.vn/tin-tuc/hoat-dong/bo-truong-bo-cong-thuong-nguyen-hong-dien-va-bo-truong-bo-thuong-mai-camuchia-cham-nimul-hoi-dam-va-ky-ket-ban-thoa-thu.html
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