Vietnam and Cambodia to eye US$20 billion trade, complete border demarcation

 Vietnam and Cambodia will work closely together to raise their two-way trade turnover to US$20 billion and complete land border demarcation and marker planting in the coming years.

The agreement was reached during talks in Hanoi on December 11 between Vietnamese Prime Minister Pham Minh Chinh and his Cambodian counterpart Hun Manet who arrived in Hanoi for a two-day official visit to Vietnam.

Vietnam and Cambodia to eye US$20 billion trade, complete border demarcation -0
Vietnamese Prime Minister Pham Minh Chinh (R) and Cambodian Prime Minister Hun Manet shaking hands ahead of their talks in Hanoi on December 11

The two PMs said that political trust between Vietnam and Cambodia has been reinforced through an increased exchange of delegation visits and contacts at all level over the years, helping to rev up bilateral cooperation in all areas, including defense-security, trade-investment, culture, education-training and people-to-people exchanges.

They especially took note of the growing trade ties between Vietnam and Cambodia that recorded an annual growth rate of more than 20% in 2015-2020 and surpassed the US$10 billion mark in 2022, hitting US$10.57 billion, up nearly 11% compared to the previous year.

To realise the US$20 billion trade target, the two sides agreed to bring into full play existing cooperation mechanisms, including the joint committee for economic, cultural and scientific and technological cooperation. They vowed to strengthen the connection between the two economies, in terms of infrastructure and institutions and policies, promote border trade exchanges, and facilitate their business communities’ cooperation opportunities.

The two sides considered defense-security cooperation a major pillar in bilateral relations, affirming that they would not allow any hostile forces to use one country’s territory to fight another. They consented to continue to effectively implement cooperation plans between the two countries’ Ministries of Defense and between their Ministries of Public Security/Interior.

They will closely coordinate in border management, prevent and fight against all types of cross-border crimes and deal with non-traditional security challenges. They welcomed the efforts of the Ministries of National Defense of Cambodia, Laos and Vietnam to host the first border defense friendship exchange in mid-December 2023.

The two sides also welcomed the progress made in land border demarcation and marker planting between the two countries and vowed to complete the remaining 16% workload to build a common border of friendship, peace, stability, cooperation and development.

The Cambodian side affirmed that it would continue to coordinate and support the search and repatriation of the remains of Vietnamese volunteer soldiers and experts who died in Cambodia during international missions in the past.

The two PMs agreed to increase Vietnam – Cambodia human resource cooperation; promote traffic connections, including highway connections and increasing the frequency of direct flights between their major cities; and coordinate with Laos to develop ‘One journey, three destinations’ tourism packages.

On this occasion, PM Pham Minh Chinh requested that the Cambodian Government continue to create favourable conditions for people of Vietnamese origin to legally live, do business and integrate well into the local community, while serving as a bridge of friendship between the two countries.

Exchanging views on regional and international issues of mutual concern, the two sides emphasized the importance of maintaining peace, security and stability in the region, as well as supporting ASEAN’s common stance and central role in the security and strategic issues of region, including the East Sea issue.

They affirmed to closely coordinate and support each other’s stances at regional and international forums; and work closely with other ASEAN member countries to build the ASEAN Community. They concurred to continue to strengthen cooperation between the three countries of Cambodia, Laos and Vietnam in effectively implementing agreements reached at the high-level meeting of the top leaders of their three ruling parties; and maintain and promote high-level meetings.

They voiced their strong support for Laos to fulfill its role as Chair of ASEAN 2024 and AIPA 2024. They also underscored the need to ramp up cooperation in the Cambodia-Laos-Vietnam Development Triangle Area and the Greater Mekong Subregion to narrow the development gap, while cooperating in the management and sustainable use of Mekong River water resources.

After the talks, the two PMs witnessed the signing of cooperation documents in the fields of science, technology and innovation, trade and diplomacy between the two countries’ ministries and agencies.

VOV/VNA

Other News

National Assembly Chairman urges renovation in leadership, working style

National Assembly Chairman urges renovation in leadership, working style

The NA's Committee for Cultural and Social Affairs has moved fast to reshuffle its organisation after the 14th National Party Congress and the election of deputies to the 16th NA, updating its work agenda to match new directives set out in the resolutions of the 14th National Party Congress and the first Congress of the NA Party Organisation for the 2025–2030 term.

Vietnam treasures ties with Croatia: PM

Vietnam treasures ties with Croatia: PM

Vietnam and Croatia should strive to double bilateral trade turnover from the current level of 161 million USD; study the establishment of a Joint Committee on Economic Cooperation to create a long-term, stable, and effective framework for collaboration, said Prime Minister Le Minh Hung.

President Ho Chi Minh's enduring legacy highlighted at Venezuela commemoration

President Ho Chi Minh's enduring legacy highlighted at Venezuela commemoration

Vice President of the United Socialist Party of Venezuela (PSUV) Jesús Faria expressed deep admiration for President Ho Chi Minh and Vietnam’s indomitable struggle for national independence. He described President Ho Chi Minh as an immortal symbol of 20th-century national liberation movements, whose legacy continues to inspire leftist parties, progressive movements, and peoples across Latin America, including Venezuela.

Vietnam proposes key cooperation orientations at BRICS Foreign Ministers' Meeting

Vietnam proposes key cooperation orientations at BRICS Foreign Ministers' Meeting

Deputy Foreign Minister Nguyen Minh Hang shared Vietnam’s approach to building an independent and self-reliant economy linked to deep international integration, while proposing several key areas for enhanced cooperation between BRICS and partner countries at the Expanded BRICS Foreign Ministers' Meeting that opened on May 14 in India.

Vietnam asks parties to respect its sovereignty over Truong Sa

Vietnam asks parties to respect its sovereignty over Truong Sa

PSNews - The spokesperson stated that the dispatch of personnel by relevant parties to features belonging to Truong Sa without Vietnam’s permission constitutes a violation of Vietnam’s sovereignty under international law. She stressed that such actions run counter to the Declaration on the Conduct of Parties in the East Sea (DOC) as well as ongoing efforts by countries to negotiate a Code of Conduct in the East Sea (COC).

Hanoi to host ASEAN Future Forum 2026 in mid-June

Hanoi to host ASEAN Future Forum 2026 in mid-June

PSNews - Vietnam’s proposals placed the highest priority on ensuring a peaceful and stable environment conducive for continued sustainable development and improving the well-being and happiness of the ASEAN people. They were praised by member states and incorporated into the core contents of the ASEAN Leaders’ Statement on the response to the Middle East crisis.

Vietnam promotes cooperation with United Nations on crime prevention

Vietnam promotes cooperation with United Nations on crime prevention

Vietnam highly values the support of the United Nations Office on Drugs and Crime (UNODC) in strengthening national capacity in crime prevention and criminal justice, drug control, and addressing emerging challenges, particularly cybercrime, said Ambassador Vu Le Thai Hoang.

Party, State leader calls for consolidation of central steering committees on legal, judicial reform

Party, State leader calls for consolidation of central steering committees on legal, judicial reform

Consolidating the central steering committees for institutional and legal reform and for judicial reform is necessary in order to streamline organisational structures without reducing responsibilities, while ensuring clear accountability, measurable outputs and concrete results. Following the restructuring, the body will be renamed the central steering committee for institutional improvement and law enforcement, with the Party General Secretary and State President serving as its head.

Vietnam strives for substantive outcome at NPT review conference

Vietnam strives for substantive outcome at NPT review conference

At the meeting this week, Ambassador Viet briefed the UNGA President on developments during the first two weeks of the conference. He stressed that the current international geopolitical landscape poses numerous complex challenges, while reaffirming Vietnam’s determination, together with other member states, to promote substantive and balanced outcomes at the conference.

Top leader of Vietnam receives Vientiane official in Hanoi

Top leader of Vietnam receives Vientiane official in Hanoi

The host leader stressed that cooperation between localities, particularly between the capitals of Hanoi and Vientiane, plays an especially important role as a pioneering force in effectively implementing the foreign polices of the two Parties and States, while also serving as a bridge between politics and development, as well as between strategy and concrete action.