Vietnam, Cambodia look forward to 20 billion USD trade
Trade has been a bright spot in the Vietnam-Cambodia relationship, experiencing impressive growth over the past more than a decade and expected to reach 20 billion USD.
An article highlighting Vietnam-Cambodia trade on the front page of SBM News (Photo: SBM News)
Hanoi (VNA)♛ – Trade has been a bright spot in the Vietnam-Cambodia relationship, experiencing impressive growth over the past more than a decade and expected to reach 20 billion USD.
Cambodia serves as a source of many raw materials for Vietnamese industry, particularly rubber. It is also a major consumer of Vietnamese products like iron and steel, construction materials, processed food and consumer goods.
Data from the Ministry of Industry and Trade's Asia-Africa Market Department revealed a strong upward trend. Two-way trade grew by an average of 18.5% annually between 2010 and 2015, and 17% per year between 2016 and 2020, reaching 5.31 billion USD in 2020 from 2.92 billion USD in 2016.
The year 2022 saw a significant jump of 11% to 10.57 billion USD in trade value. The positive momentum has carried into 2024, with the first five months recording a trade value of 4.6 billion USD, reflecting a 13.4% increase.
Vietnam's exports to Cambodia during the first half of 2024 were estimated at 2.5 billion USD, mainly consisting of iron and steel, apparel, and petrol and oil. However, this represented a 1.1% decrease compared to the same period last year.
Meanwhile, Vietnam's imports from Cambodia in the period surged by 38.4% to an estimated 2.9 billion USD, driven by cashew nut, rubber, fruits and vegetables.
Vietnamese Ambassador to Cambodia Nguyen Huy Tang said in 2024 and beyond, the two countries will continue to coordinate to realise existing agreements and memoranda of understanding, including the border trade and the 2023-2024 bilateral trade promotion agreements.
Trade experts believed that fostering a favourable and stable business environment is crucial to facilitate exports. They also advocated for increasing investment in research and development to enhance the quality and competitiveness of Vietnamese goods, and pursuing free trade agreements and economic accords with Cambodia as well.
Vietnamese businesses are encouraged to focus on producing high-quality and competitively priced products and services to attract Cambodian consumers. Building a broad and stable distribution network in Cambodia is also seen as a key step toward further success./.
Cambodia’s national news agency Agence Kampuchea Press (AKP) and some other press agencies like Kampuchea Thmey Daily, Koh Santepheap Daily have recently run articles spotlighting the long-lasting relations between Vietnam and Cambodia on the occasion of the 57th anniversary of bilateral diplomatic relations (June 24, 1967 - 2024)
Cambodia’s national news agency Agence Kampuchea Press (AKP) and some other press agencies like Fresh News and AMS have recently run an article spotlighting the good relations between Vietnam and Cambodia.
Based on the good neighbourliness, traditional friendship, comprehensive cooperation and long-term sustainability, competent agencies of Vietnam and Cambodia have taken many practical and effective measures to help their people and future generations clearly and fully understand the bilateral relationship, making it stronger, for the sake of their people, Spokeswoman of the Vietnamese Ministry of Foreign Affairs Pham Thu Hang said on May 23.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
