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 - Photo: Industry and Trade Newspaper
At the invitation of Minister Nguyen Hong Dien, Ms. Cham Nimul, Minister of Commerce of Cambodia, visited and worked in Vietnam on April 28 and 29, 2025.
During the visit, on the afternoon of April 28, at the headquarters of the Ministry of Industry and Trade , Minister Nguyen Hong Dien held talks with Cambodian Minister of Commerce Cham Nimul to discuss orientations to promote economic and trade cooperation between the two countries. At the same time, they signed the Agreement on promoting bilateral trade between the Government of Vietnam and the Government of Cambodia for the period 2025-2026.
At the meeting, the two Ministers highly appreciated the substantial results achieved in economic and trade cooperation between Vietnam and Cambodia in recent times. The two Ministers emphasized 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 and tradition, a close and effective inter-ministerial cooperation mechanism, and potential to complement each other in the structure of import and export goods. In particular, border trade between the two countries has recorded many advances, but is still facing a number of difficulties that need to be resolved in the coming time.
At the same time, 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 even and sustainable development in bilateral trade.
Promoting border economic cooperation
Minister Cham Nimul expressed his sincere thanks to Minister Nguyen Hong Dien and emphasized that this visit is an important occasion for the two sides to promote economic and trade cooperation, increase 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).
Minister Cham Nimul announced that Cambodia will organize a number of international fairs and exhibitions and respectfully invites Vietnamese businesses to attend, in order to enhance trade exchanges and connect businesses of the two sides.
To further enhance the effectiveness of cooperation, the Cambodian Minister of Commerce proposed that the two sides consider establishing a Vietnam - Cambodia Bilateral Trade Cooperation Committee, and assign experts from the two ministries to coordinate specific work and develop a detailed implementation plan.
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.
This is an important legal document, of great significance to the business communities of the two countries, as it has provided preferential tariffs for many goods with strengths of each side, more preferential than the ASEAN Trade in Goods Agreement (ATIGA) - Photo: Industry and Trade Newspaper
New trade deal
Based on the assessment of existing problems and difficulties, the two Ministers had specific discussions on a number of measures to promote economic and trade cooperation, and agreed on a number of major orientations for the coming time.
Accordingly, the two sides will focus on accelerating the completion of logistics infrastructure and distribution networks in border areas; rapidly 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; and closely cooperating in trade promotion and business connection programs.
The two sides agreed to increase information sharing and promote 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 supply chain connections, and develop balanced, sustainable bilateral trade 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 a volatile global economy.
In the first quarter of 2025, two-way trade turnover reached 3.2 billion USD, up 10.2% over the same period. Of which, Vietnam's exports to Cambodia reached 1.3 billion USD (up 9.3%) and imports reached 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 turn, Cambodia is Vietnam's fourth largest trading partner in ASEAN.
Phan Trang
Source: https://baochinhphu.vn/viet-nam-campuchia-ky-thoa-thuan-thuong-mai-uu-dai-thue-quan-dac-biet-102250428211823594.htm
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