Vietnam - Cambodia expected to raise trade to $20 billion USD

Vietnam and Cambodia Target $20 Billion in Bilateral Trade

Vietnam and Cambodia aim to increase their bilateral trade volume to $20 billion, with a focus on removing trade barriers and enhancing production connectivity.

At the Vietnam-Cambodia Business Forum 2026 in Phnom Penh on the afternoon of October 9, Prime Minister Le Minh Hung and Cambodian Prime Minister Hun Manet emphasized that the two countries need to leverage complementary advantages to expand trade and investment.

During the first eight months of the year, bilateral trade reached nearly $8.7 billion. Vietnam is currently Cambodia's largest trading partner within ASEAN and third largest globally.

However, there remains a disparity in investment scale between the two countries. Vietnam has 223 projects in Cambodia with a total registered capital of approximately $3.4 billion, while Cambodia has only 50 projects in Vietnam with registered capital of nearly $82 million.

Prime Minister Le Minh Hung and Cambodian Prime Minister Hun Manet attend the Vietnam-Cambodia Business Forum 2026 in Phnom Penh on the afternoon of October 9. Photo:

According to Prime Minister Le Minh Hung, the two countries have numerous advantages to combine and increase trade value. Cambodia has land, agricultural raw material sources, and a young workforce. Conversely, Vietnam has processing capabilities, port and logistics systems, and experience in integration with a network of over 60 FTA partners.

Instead of primarily exchanging raw materials and goods, the two countries need to strengthen cooperation in raw material zones, processing, quality standards, and origin tracing. The Prime Minister proposed that Vietnamese businesses invest more deeply in production in Cambodia, thereby enhancing product value and increasing participation in supply chains.

The two countries also need to improve connectivity in roads, railways, and inland waterways, including the Ho Chi Minh City-Mekong Bai-Bavet-Phnom Penh expressway, and study single-window customs mechanisms.

Cambodian Prime Minister Hun Manet noted that transportation connectivity is only the first step. The next important step is for the two countries to transform transport routes into economic and production corridors, connecting factories, industrial zones, economic zones, logistics service providers, and markets.

Mr. Hun Manet assessed that the goal of raising bilateral trade to $20 billion is achievable, and the two countries may even reach higher levels. He proposed that the two countries increase cooperation, shifting from increasing the volume of exchanged goods to improving quality, deepening processing, and creating additional value in supply chains.

Prime Minister Le Minh Hung speaks at the Vietnam-Cambodia Business Forum 2026 in Phnom Penh on the afternoon of October 9. Photo:

At the forum, businesses raised concerns about taxes, land, customs procedures, transportation, payments, and delayed projects. Prime Minister Le Minh Hung required ministries and agencies to address issues within their authority while coordinating with Cambodia to resolve bilateral obstacles. The Ministry of Finance and the Cambodian Development Council will compile a list of issues, assign responsible agencies, and set deadlines for resolution.

The two countries were also encouraged to expand cooperation in digital transformation, e-commerce, renewable energy, and tourism, and to promote domestic currency payments and cross-border QR codes. In 2025, over one million Vietnamese tourists visited Cambodia. Cambodian Prime Minister Hun Manet proposed that the two sides link tourism products to attract more visitors from third-party markets.

On this occasion, the two Prime Ministers witnessed the exchange of five cooperation documents between the two countries. Among these, two amended overseas investment registration certificates for Thaco Agri were awarded for cultivation and livestock projects in Kratie and Ratanakiri, with a total capital of $648 million.