Viet Nam, Cambodia sign new agreement on promoting trade ties
VGP - An agreement on promoting Viet Nam–Cambodia trade for the 2025–2026 period was inked in Ha Noi on April 28.
Minister of Industry and Trade Nguyen Hong Dien (R) and Cambodian Minister of Commerce Cham Nimul sign an agreement on promoting Viet Nam–Cambodia trade for the 2025–2026 period, Ha Noi, April 28, 2025 - Photo: VGP
The agreement was signed by Vietnamese Minister of Industry and Trade Nguyen Hong Dien and Cambodian Minister of Commerce Cham Nimul.
It is an important legal document with great significance for the business communities of both countries, as it provides tariff incentives for many key goods from each side, with preferential terms even greater than those under the ASEAN Trade in Goods Agreement (ATIGA).
The agreement is expected to help Viet Nam and Cambodia further leverage the complementary strengths of their two economies, tighten supply chain connectivity, and promote balanced, sustainable bilateral trade development to commensurate with the scale and potential of cooperation between the two countries.
The two-way trade turnover reached US$10.1 billion in 2024, an increase of 17.5 percent compared to the previous year.
In the first quarter of 2025, the bilateral trade hit US$3.2 billion, up 10.2 percent year-on-year. Of the figure, Viet Nam's exports to Cambodia amounted to US$1.3 billion (up 9.3 percent), while imports attained US$1.9 billion (up 10.9 percent).
Viet Nam is currently Cambodia's third-largest trading partner globally (after China and the U.S.) and the biggest trading partner within ASEAN. Meanwhile, Cambodia is Viet Nam's fourth-largest trading partner in ASEAN./.
