In a significant step towards deepening their economic relationship, Vietnam and Cambodia are now eyeing a $20 billion trade target, building on a history of mutual cooperation and shared growth. Both nations have enjoyed steadily increasing trade, with bilateral ties that have expanded over the years across various sectors including agriculture, construction, and manufacturing. The target is part of Vietnam’s broader strategy to assert itself as a regional economic powerhouse, while Cambodia benefits from the substantial inflow of Vietnamese investment into key sectors.

Recent data shows a sharp rise in two-way trade between the two nations, which surged past $11 billion last year. This growth is buoyed by robust cross-border trade and improved relations, and with both countries being members of the ASEAN economic bloc, they are well positioned to capitalize on favorable trade agreements. The focus on infrastructure, agriculture, and energy continues to underpin their trade strategies, with Vietnam providing much-needed expertise and resources to help Cambodia grow its economy.

However, this close relationship is not without its complexities. Vietnam’s growing economic influence in Cambodia could be seen as creating a dependency, where Cambodia’s access to advanced infrastructure and investment is increasingly tied to Vietnamese interests. Nevertheless, Cambodia’s leaders welcome this influx of investment, recognizing the opportunities it provides for economic development and regional integration.

As the two countries aim for $20 billion in trade, they also seek to strengthen other areas of cooperation such as tourism, energy, and digital transformation. While there are challenges ahead, both nations remain optimistic about their shared future, united by a common goal of prosperity and economic progress​