PHNOM PENH: The press release from the Ministry of Foreign Affairs and International Cooperation highlights that Cambodia and Vietnam have agreed to strengthen their economic cooperation by boosting more economic activities, trade, and other sectors for mutual benefit.
The meeting aim to ensure the continuity of their joint efforts, they have agreed to cooperate and accelerate the completion of the Master Plan on Cambodia-Viet Nam Economic Connectivity 2030 this year.
Additionally, both parties have confirmed their commitment to effectively executing the MOUs and agreements that have already been signed, including the Agreement on the Transit of Goods. They will facilitate the transit of goods under the provisions of bilateral, regional, and international agreements to which both sides are parties, particularly the RCEP Agreement.
Cambodian goods exports to Vietnam amounted to $491.180 million in the first two months of 2023 – surging by 36.12 percent over the same time last year – accounting for 45.28 percent of bilateral trade, jumping up by 7.30 percentage points year-on-year, according to Customs (GDCE).