Local Vietnam-Cambodia Friendship Association Fosters Dak Nong-Mondulkiri Ties
	Deputy Foreign Minister: President's Visit to Laos, Cambodia Of Great Significance

Bilateral trade turnover reached US$4.6 billion in the first five months of the year

According to data from the General Department of Vietnam Customs, in the first 5 months of 2024, Vietnam's total import-export turnover with Cambodia reached US$4.6 billion, an increase of 13.4% over the same period in 2023.

Total export turnover of products from Vietnam to Cambodia reached more than US$2.11 billion, down 1.76% over the same period.

Vietnam - Cambodia trade aims to soon reach the target of US$20 billion.

In recent years, economic, trade and investment relations between the two countries have developed positively and achieved encouraging results. Regarding trade, bilateral trade turnover between Vietnam and Cambodia continues to maintain a positive growth momentum.

In order to promote cooperation, the two sides signed an agreement to promote bilateral trade between Vietnam and Cambodia for the period 2019-2020, a Memorandum of Understanding on developing and connecting Vietnam-Cambodia border trade infrastructure, Memorandum of Understanding on cooperation in the field of trade promotion.

The two sides also agreed on the contents of the Vietnam-Cambodia border trade agreement. Recently, Vietnam and Cambodia have also provided import and export tax incentives for goods of both sides' businesses.

Vietnam enjoys 0% import and export tax on 26 items when imported into the Cambodian market. These are special incentives that Cambodia only offers to Vietnam. In contrast, Vietnam also offers special preferential import tax rates of 0% for 32 Cambodian products, mostly agricultural products.

In addition, trade cooperation activities between Vietnam and Cambodia are actively promoted through many activities, such as business forums, Vietnam's exhibition fairs in Cambodia, and the opening of border gate economic zones. The two sides also strengthened the construction of legal corridors and infrastructure to serve commercial activities.

Vietnam becomes Cambodia's second largest trading partner in the market

According to the Vietnam Trade Office in Cambodia, Vietnam and Cambodia share a land border of about 1,255km long, passing through 9 provinces of Cambodia and 10 provinces of Vietnam. Between the two countries there are 11 international border gates, 10 national border gates, 25 secondary border gates and many trails. This is one of the favorable conditions for the two countries' trade, economic and tourism cooperation to develop.

Although Cambodia has an international sea container port, in trade relations with Vietnam, goods are mainly transported through land border gates and some by river. The amount of goods delivered to Vietnam through seaports is small and insignificant.

Photo: baodautu

With positive growth in trade scale in the first months of this year, Vietnam is not only Cambodia's largest trading partner in ASEAN but also Cambodia's second largest trading partner in the world.

According to Nguyen Huy Tang, Vietnamese Ambassador to Cambodia, in 2024 and the following years, Vietnam will continue to promote comprehensive cooperation with Cambodia. This includes cooperation in the fields of economics, trade, investment and tourism, which are key areas of great concern to the leaders of the two countries.

Vietnam and Cambodia will continue to coordinate in implementing the agreements and memorandums of understanding that the two sides have signed such as border trade agreement between the two countries, agreement to promote bilateral trade in the period of 2023-2024, Memorandum of Understanding on tourism cooperation for the period 2023-2028.

In addition, investors and businesses of the two countries will promote looking for good opportunities for investment and trade exchange in 2024 and the following years.

Dien Bien Phu Victory Reflects Friendship and Solidarity of Vietnam, Laos, & Cambodia The Vietnamese Ambassador to Laos Nguyen Ba Hung shared that althought seven decades have passed, the historical friendship and solidarity between Vietnam, Laos, and Cambodia ...

75th Joint Patrol of Vietnam - Cambodia Naval Forces Successfully Completed Vietnam-Cambodia's naval joint patrol is well coordinated to effectively check and maintain security and order; train to maneuver in formations; conduct search and rescue operations, ...