Vietnam biggest trading partner of Cambodia in ASEAN now

12 Jul '23

1 min read

Vietnam biggest trading partner of Cambodia in ASEAN now

Insights

Vietnam-Cambodia trade hit over $2.8 billion between January and May 2023, rising by nearly 3 per cent year on year.
Vietnam's export turnover to the United States reached $1.5 billion, while its imports from there stood at $1.3 billion.
This makes Vietnam Cambodia's biggest trading partner in the ASEAN and the third among all trading partners of Cambodia.

Vietnam-Cambodia trade reached over $2.8 billion over the first five months this year, rising by nearly 3 per cent year on year (YoY), the Cambodian ministry of commerce announced recently. Vietnam's export turnover to the United States reached $1.5 billion, while its imports from there stood at $1.3 billion.

This makes Vietnam Cambodia's biggest trading partner in the Association of Southeast Asian Nations (ASEAN) and the third among all trading partners of Cambodia after China and the United States, according to Vietnamese media reports.

Vietnam’s minister of industry and trade Nguyen Hong Dien and Cambodian minister of commerce Pan Sorasak signed an agreement early last month to enhance bilateral trade in the 2023-2024 period.

The first such agreement was signed by both sides in 2006 and has been renewed every two years.

The agreement has contributed to boosting two-way trade turnover over the years, according to the Vietnam’s ministry of industry and trade.

ALCHEMPro News Desk (DS)

More Textiles News - Vietnam...