Vietnam’s trade with Cambodia hit over US$1.41 billion over the last two months, a year-on-year increase of 30.4 percent, making Vietnam the second biggest trade partner of Cambodia.

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Statistics of the Cambodian Ministry of Economy and Finance showed that during January- February this year, Cambodia gained US$801 million from exports to Vietnam and spent US$612 million in imports from the neighboring country.

Vietnam has become the biggest trade partner of Cambodia in ASEAN.

Dr. Ky Sereyvath, an economist at the Royal Academy of Cambodia, said regional trade is necessary and significant, especially amidst global political and economic challenges.

With geographical proximity and close relationships between the two governments and the private sector, trade between Cambodia and Vietnam will grow even more in the future, he noted.

Two-way trade has seen significant progress, with a growth rate averaging 20 percent from 2015 to 2022, surpassing US$10 billion in 2022.

Viet Nam remains the leading ASEAN investor in Cambodia, with 205 active projects totaling registered capital of US$2.95 billion.

During the talks between Vietnamese Prime Minister Pham Minh Chinh and his Cambodian counterpart Samdech Thipadei Hun Manet in December last year, both leaders agreed to work towards achieving a bilateral trade turnover target of US$20 billion soon while facilitating investment and business cooperation among their respective businesses./.

Source: VGP
17/03/2024