Cambodia and Vietnam have agreed to establish a joint mixed trade commission aimed at promoting the growth of bilateral trade, with the goal of reaching $20 billion in the near future. In 2024, trade between the two countries reached almost $7.8 billion.

This agreement was revealed during a courtesy meeting between Cambodian Minister of Commerce Cham Nimul and Vietnamese Prime Minister Pham Minh Chinh, held on April 28 in Hanoi, as a Cambodian delegation attended the Cambodia-Vietnam Bilateral Meeting.

During the meeting, Nimul briefed the prime minister on key outcomes of the Cambodian delegation’s visit and emphasised the importance of increasing bilateral trade through more effective implementation of existing mechanisms — especially the ASEAN Free Trade Agreement, ASEAN+1 agreements and the Regional Comprehensive Economic Partnership (RCEP).

She added that Cambodia and Vietnam have also pledged to work together to achieve the $20 billion trade target.

“Cambodia and Vietnam signed a cooperation framework to promote bilateral trade for 2025–2026, and are exploring the possibility of establishing a mixed trade commission to help realise the trade volume goal of $20 billion, in line with the vision set by the leadership of both countries,” she told him.

Chinh praised Cambodia’s development, particularly in terms of economic and trade growth. He expressed support for Nimul’s initiative to establish the mixed trade commission and encouraged both countries’ commerce ministries and related institutions to strengthen cooperation to achieve the $20 billion trade target, benefiting both nations’ populations.

According to Cambodia’s General Department of Customs and Excise (GDCE), in 2024, trade between Cambodia and Vietnam totalled $7.78 billion, an 18.2% increase from $6.58 billion in 2023.

The Kingdom exported $3.61 billion worth of goods to Vietnam, up 21.6%, while importing $4.17 billion worth, up 15.4%. Cambodia’s main exports included paddy rice, cashew nuts, cassava, rubber, corn, bananas and other natural resources. Imports included construction materials, spices, food, machinery, fuel, electronic devices, electricity and agricultural fertilizers.

In the first three months of 2025, trade between the two countries totalled $2.5 billion, up 0.7% compared to the same period in 2024. Cambodia exported $1.27 billion and imported $1.07 billion from Vietnam during that period.

Lim Heng, vice-president of the Cambodia Chamber of Commerce, told The Post on April 29 that due to shared land and water borders, bilateral trade naturally occurs daily and likely exceeds recorded figures. He explained that Vietnam is a key market for Cambodia’s agricultural and agro-industrial products due to its larger and more advanced economy, with more working capital, storage facilities, drying equipment and processing factories.

“Geographical factors and the commitment of the leaders of both countries will further drive the growth of bilateral trade in the future,” he said.

He also noted that Cambodia is currently constructing an expressway from Phnom Penh to the border with Vietnam to further enhance tourism and bilateral trade.