Cambodia & Vietnam Set Ambitious Trade Target of USD 20 Billion

• Sommana Yan
• 4 March 2025
• Uncategorized
• 1561 Views

 

In a significant commitment to enhance economic collaboration, Cambodia and Vietnam have pledged to elevate their bilateral trade to USD 20 billion in the coming years. This agreement was reached during a meeting on 20 February 2025, between Samdech Khuon Sudary, President of the National Assembly of Cambodia, and HE Nguyen Minh Vu, Ambassador Extraordinary and Plenipotentiary of Vietnam to Cambodia.

During the meeting, Ambassador Nguyen highlighted that Vietnam has invested nearly USD 3 billion in Cambodia, encompassing approximately 400 projects, reflecting the robust economic ties between the two nations. He expressed his country’s dedication to furthering cooperation that would yield substantial benefits for both countries and their citizens.

National Assembly President Khuon Sudary emphasised the importance of the new diplomatic mission in reinforcing and expanding the already strong relations shared by Cambodia and Vietnam. He noted that cooperation would not only bolster trade but also enhance growth across various sectors, including parliamentary diplomacy, tourism, and investment.

Vietnam continues to stand as Cambodia’s top trading partner, with a notable trade volume of USD 4.6 billion recorded in 2024—marking a remarkable increase of 23.5% compared to the previous year. This growing economic partnership underscores the ongoing commitment of both nations to foster a mutually beneficial relationship that promotes economic prosperity and development.

• Business and Market
• Economy and Finance
• Cooperation and networking