In a statement released on 13 Dec 2023, the Ministry of Foreign Affairs and International Cooperation announced that Cambodia will host the Vietnam-Cambodia Trade Summit in January 2024. The summit aims to strengthen bilateral trade relations between the two countries, which have been experiencing increased tensions due to ongoing disputes over maritime boundaries.
The announcement made on 13 Dec 2023 was welcomed by Vietnamese Prime Minister Pham Minh Chinh, who expressed his country’s commitment to strengthening its economic ties with Cambodia. Chinh emphasized that the summit will provide an opportunity for the two countries to discuss and resolve outstanding issues related to trade and investment.
During the summit, Cambodia’s Deputy Prime Minister and Foreign Minister Sen Ing will engage in discussions with his Vietnamese counterpart to explore ways to enhance cooperation in various fields, including trade, investment, and tourism. The two sides have agreed to increase their bilateral trade turnover by 10% annually over the next few years.
Cambodia’s Ministry of Commerce has announced plans to introduce new measures to promote trade and investment between the two countries. These include the establishment of a joint committee to oversee bilateral trade relations, as well as the creation of special economic zones to attract foreign investment.
The Vietnam-Cambodia Trade Summit comes at a time when regional tensions are escalating due to disputes over maritime boundaries in the South China Sea. Cambodia’s position on this issue has been seen as balancing both sides, while maintaining its sovereignty and territorial integrity.
The summit is expected to provide an opportunity for Cambodia to play a key role in promoting peace and stability in the region. By strengthening bilateral trade relations with Vietnam, Cambodia aims to enhance its economic competitiveness and reduce its dependence on other countries.
In conclusion, the Vietnam-Cambodia Trade Summit marks an important milestone in the two countries’ efforts to strengthen their economic ties and promote regional cooperation. As tensions in the South China Sea continue to escalate, Cambodia’s proactive approach to trade and investment will be closely watched by regional observers.
Key Points:
- Cambodia will host the Vietnam-Cambodia Trade Summit in January 2024.
- The summit aims to strengthen bilateral trade relations between the two countries.
- Vietnamese Prime Minister Pham Minh Chinh has expressed his country’s commitment to strengthening its economic ties with Cambodia.
- Camibia’s Deputy Prime Minister and Foreign Minister Sen Ing will engage in discussions with his Vietnamese counterpart on trade, investment, and tourism cooperation.
- Cambodia’s Ministry of Commerce plans to introduce new measures to promote trade and investment between the two countries.
Aquapedia: Regional Tensions Escalate Over South China Sea Disputes
The dispute over maritime boundaries in the South China Sea has been a contentious issue in regional politics, with several countries staking their claims on various territories. Cambodia’s position on this issue has been seen as balancing both sides, while maintaining its sovereignty and territorial integrity.