At the invitation of Minister of Industry and Trade Nguyen Hong Dien, Cambodia’s Minister of Commerce, Cham Nimul, paid a visit to Vietnam and worked from April 28 to April 29, 2025.
During the visit, in the afternoon of April 28, at the headquarters of the Ministry of Industry and Trade, Minister Nguyen Hong Dien held talks with Cambodia’s Minister of Commerce, Cham Nimul, to discuss orientations for promoting economic and trade cooperation between the two countries and jointly signing the Agreement on Promoting Bilateral Trade between the Government of Vietnam and the Government of Cambodia for the period 2025-2026.
At the talks, the two ministers expressed their pleasure and highly appreciated the substantial results achieved in economic and trade cooperation between Vietnam and Cambodia over the past time. The two ministers emphasized and affirmed the importance of economic and trade cooperation, considering it a pillar in promoting the relationship between the two countries of Vietnam and Cambodia.
Minister Nguyen Hong Dien affirmed that the two countries have a long-standing traditional friendship, a close and effective inter-ministerial cooperation mechanism, and mutually complementary potential in the import and export structure. The two countries’ leaders have set a target of raising two-way trade turnover to US$20 billion in the coming time. This goal is very challenging, but there is a basis for its implementation and completion.
“Bilateral trade between Vietnam and Cambodia is not only growing in scale but also gradually improving in quality, with the emergence of new cooperation models, modern distribution channels, and the dynamic participation of young businesses, especially in the fields of technology and e-commerce. Trade promotion activities and business connections have been continuously maintained and promoted effectively, helping to expand the market and create a driving force to promote economic and trade cooperation,” Minister Nguyen Hong Dien emphasized.
Assessing that border trade, in particular, between the two countries has made significant progress, Minister Nguyen Hong Dien also pointed out some difficulties that need to be addressed through coordination between the two sides in the coming time. Accordingly, it is necessary to promote trade programs in a professional, in-depth manner, closely following the practical needs of businesses, thereby effectively exploiting the market potential of each side and promoting balanced and sustainable development in bilateral trade.
Sharing the views of Minister Nguyen Hong Dien, Minister Cham Nimul emphasized: “This visit is an important opportunity for the two sides to promote economic and trade cooperation and enhance exchanges on major orientations for cooperation in the new period.”
On this occasion, Minister Cham Nimul extended warm congratulations to the Government and people of Vietnam on the occasion of the Southern Liberation Day (April 30)
To further enhance the effectiveness of cooperation, Minister Cham Nimul proposed that the two sides consider establishing a Vietnam-Cambodia Bilateral Trade Cooperation Committee and assign officials of the two ministries to coordinate and work out specific implementation plans. In addition, Cambodia will study the implementation of some projects in the border gate economic zones, promote the exchange of goods at border gates, thereby further facilitating bilateral trade and investment and connecting businesses of the two countries.
Cambodia will organize a number of international fairs and exhibitions and cordially invite Vietnamese businesses to attend, aiming to promote trade exchanges and connect the two sides’ businesses.
Ms. Cham Nimul – Cambodia’s Minister of Commerce
Based on the assessment of the existing shortcomings and obstacles, the two ministers discussed specific measures to promote economic and trade cooperation and agreed on some major orientations for the coming time.
Accordingly, the two sides will focus on speeding up the completion of logistics infrastructure and distribution networks in the border areas; quickly and strongly shifting unofficial trade to official trade; continuing to coordinate closely in combating smuggling and trade fraud in the border areas between the two countries; cooperating closely in trade promotion programs and business connections; enhancing information sharing and technical cooperation at the professional level to increase mutual understanding and minimize the application of trade remedies or unnecessary disputes in the future.
After the talks, under the authorization of 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 with great significance for the business communities of the two countries, as it offers preferential tariffs for many key export products of each side, which are more favorable than those under the ASEAN Trade in Goods Agreement (ATIGA).
Currently, the world economy is still facing many difficulties and challenges, and bilateral trade between Vietnam and Cambodia is no exception. Therefore, the signing of the Agreement for the period 2025-2026 is crucial and strategic, helping Vietnam and Cambodia to exploit more effectively the complementarity of the two economies, strengthen supply chain connectivity, and develop bilateral trade in a balanced, sustainable manner, commensurate with the scale and potential of cooperation between the two countries.
In 2024, two-way trade turnover between Vietnam and Cambodia reached US$10.1 billion, up 17.5% compared to 2023, reversing the downward trend of the previous year and showing a positive and sustainable recovery in the context of volatile global economic situation.
In the first quarter of 2025, two-way trade reached US$3.2 billion, up 10.2% over the same period. Of which, Vietnam’s exports to Cambodia reached US$1.3 billion (up 9.3%) and imports reached US$1.9 billion (up 10.9%).
Vietnam is currently Cambodia’s third-largest trading partner in the world (after China and the US) and its largest trading partner within ASEAN. Conversely, Cambodia is Vietnam’s fourth-largest trading partner within ASEAN.
The Vietnamese Steel Market in Q1 2025: A Tale of Domestic Revival and Export Standstill
The domestic steel industry witnessed robust growth in the first quarter of 2025, with production and consumption on the rise, fueled by an economic rebound and robust public investment disbursements. However, steel exports faced significant headwinds due to international trade barriers, plunging into a deep decline and presenting fresh challenges for steel companies.
The Green Revolution: Celebrating 50 Years of Vietnam’s Agricultural Excellence
Over the past five decades, Vietnamese agriculture has witnessed remarkable progress, evolving from a state of significant scarcity to a country that ensures domestic food security and contributes to global food security as a leading rice exporter. With food security assured, Vietnamese agriculture has gradually transitioned from rice monoculture to a relatively comprehensive agricultural development approach.
Prime Minister Seeks Feedback on Four Key Issues for the Ninth Session of the National Assembly
On April 27, Prime Minister Pham Minh Chinh chaired a meeting of the Government’s Standing Committee to discuss and provide feedback on four crucial agenda items for the upcoming 9th session of the 15th National Assembly, which is set to commence in early May 2025.
The Coffee Conundrum: Brewing the Perfect Investment in Vietnam’s “Golden Land”
The Vietnamese coffee market is witnessing a surge of investments from both domestic and foreign industry giants. The rapid expansion of retail networks and the establishment of large-scale factories reflect the immense attraction of a market that is experiencing robust and rapid growth.
Unlocking Institutional Reform: A Continuous Journey with Breakthrough Destinations
The pressure on businesses is immense and ever-growing. Merely “improving the business investment environment” will not suffice; instead, a bold and radical reform approach is necessary.
