Vietnaṃ and Cambodia to further elevate economic ties

  • Vietnam
  • Wednesday, 14 Sep 2022

Chính (right) meeting with visiting President of Cambodia’s National Assembly Samdech Heng Samrin on Sept 13 in Hanoi. — VNA/VNS

HANOI (Vietnam News/Asia News Network): Vietnamese Prime Minister Phạm Minh Chính urged Vietnam and Cambodia to maintain momentum and further improve the efficiency of economic cooperation in the context of increasing bilateral trade.

He was speaking during a meeting with President of Cambodia’s National Assembly Samdech Heng Samrin on Tuesday in Hanoi.

The top legislator was the first high-ranking leader of Cambodia to visit Viêetnam since the two countries have successfully contained Covid-19, and on the occasion, he conveyed greetings from Cambodian Prime Minister Hun Sen and other leaders to Vietnamese PM Chính.

Chính and Cambodian NA President Heng Samrin expressed delight at the stable development of Viêetnam-Cambodia relations, with senior leaders of the two countries maintaining regular contact and exchanges, and effective bilateral cooperation mechanisms in various fields.

Notably, despite Covid-19, two-way trade in 2021 hit nearly US$10 billion, and in the first seven months of 2022, the figure has already reached US$7 billion, up 17.8 per cent over the same period in 2021.

Viêetnam currently has 188 valid investment projects in Cambodia with a total registered capital of $2.8 billion, maintaining the leading position in Asean and ranking in the top five largest direct investment countries in Cambodia.

The two sides agreed to continue coordinating to effectively implement defence-security cooperation agreements and plans, closely coordinate border management to prevent cross-border crime, continue efforts to demarcate the remaining 16 per cent of the land border to build a border of peace, friendship, cooperation, and development.

The leaders also underlined the need to further strengthen linkages between the two economies, especially in transport, telecommunications, finance - banking, in order to boost cooperation in other fields such as trade, investment, energy, tourism, education and training and cooperation among localities, especially border provinces.

The two countries should also quicken the completion of the "Master Plan for Linking Vietnam-Cambodia Economies until 2030,” soon sign the Border Trade Agreement, and effectively implement the Investment Promotion and Protection Agreement and the Double Tax Avoidance Agreement.

Chính thanked and asked the parliament and Government of Cambodia to continue to pay attention to and create favourable conditions for Vietnamese people in Cambodia in their lives and work, enabling them to integrate well into the host society and act as a bridge of friendship between the two countries.

He also wants Cambodia to facilitate Vietnamese enterprises’ investment and doing businesses in a stable and long-term manner in Cambodia.

Chính thanked Cambodian authorities for their effective coordination with Vietnam in the successful rescuing of many Vietnamese citizens who were scammed and forced to work at illegal foreign businesses in Cambodia, suggesting that the two sides continue to work closely to rescue and support victims and put a definitive end to this problem.

Discussing multilateral cooperation, the two leaders agreed to continue to coordinate and support each other at international and regional forums.

Chính affirmed that Vietnam supports and believes that Cambodia will successfully carry out its role as Asean and AIPA Chair in 2022, requesting the two countries and other Asean member states make efforts to maintain the solidarity, unity and the central role of Asean in strategic issues of the region, including the South China Sea issue.

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Vietnam , Cambodia , cooperation


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