Hanoi (VNA) – The state visit to Cambodia on February 6 by General Secretary of the Communist Party of Vietnam (CPV) Central Committee To Lam is expected to usher in a new phase of broader and more closely knit cooperation between the two countries.
Positive growth momentum
According to the Department of Foreign Market Development under the Ministry of Industry and Trade, bilateral trade has continued to record positive growth in recent years, reaffirming its role as one of the key pillars of bilateral cooperation, particularly amid ongoing volatility in the global and regional economy.
Vietnam is currently Cambodia’s third-largest trading partner worldwide, after China and the US, and its largest trading partner within ASEAN. Conversely, Cambodia ranks as Vietnam’s fifth-largest trade partner in ASEAN, following Thailand, Malaysia, Indonesia and Singapore. In 2025, two-way trade reached 11.3 billion USD, up 12% from 2024. Of this total, Vietnam’s exports to Cambodia amounted to 5.67 billion USD, while imports from Cambodia stood at 5.66 billion USD, an increase of 18.4% year-on-year.
To promote bilateral trade, the Ministry of Industry and Trade has rolled out numerous trade facilitation and promotion activities. Notably, on April 28, 2025, the two ministries signed a Memorandum of Understanding on promoting bilateral trade for the 2025–2026 period, granting special tariff preferences for key products of each side at levels more favourable than those under the ASEAN Trade in Goods Agreement (ATIGA). This agreement provides fresh impetus toward the shared goal of raising bilateral trade to 20 billion USD.
In 2025 alone, the ministry coordinated with Cambodian authorities to organise more than 15 trade promotion and business-matching activities, including business delegations, trade fairs and border trade forums, further enhancing market access for Vietnamese goods.
On investment, Vietnam has 229 valid investment projects in Cambodia with total registered capital of 2.94 billion USD, ranking second among 85 overseas investment destinations of Vietnam. Vietnamese investments are present across most key sectors of the Cambodian economy, with many projects operating stably and efficiently, making tangible contributions to Cambodia’s socio-economic development.
Expanding cooperation
Experts note that cultural similarities, geographical proximity, competitive logistics costs and ASEAN tariff preferences under ATIGA have enabled Vietnamese goods and enterprises to expand their market share in Cambodia. At the same time, Vietnamese products have steadily improved in quality and adaptability, meeting international standards and local consumer demand.
To further unlock the potential of bilateral economic and trade cooperation, the ministry emphasised the need for both sides to continue reviewing and effectively implementing signed agreements, facilitating trade and border connectivity, strengthening trade promotion in complementary sectors, reforming administrative procedures, upgrading border and logistics infrastructure, and enhancing coordination in combating smuggling and trade fraud. These efforts will help lay a solid foundation for a deeper, more sustainable phase of Vietnam–Cambodia economic partnership in the years ahead./.
Fostering Vietnam–Cambodia traditional friendship in new context
This is among the first overseas visits by the Vietnamese leader after General Secretary Lam was re-elected as Party chief at the recent National Party Congress. This not only reflects the strategic importance Vietnam attaches to relations with Cambodia, but also underscores the high level of mutual respect and appreciation both countries place on their deep and close bilateral ties.
