Vietnam, Cambodia consolidate ties for development

(VOVWORLD) - Cambodian Prime Minister Samdech Techo Hun Sen on Friday began a 2-day official visit to Vietnam, which is expected to create a milestone in bilateral ties.

Vietnam, Cambodia consolidate ties for development  - ảnh 1

Prime Minister Nguyen Xuan Phuc hosts an official welcoming ceremony for his Cambodian counterpart Samdech Techo Hun Sen at the Presidential Palace in Hanoi on October 4. (Photo: VGP)

The Vietnam-Cambodia special relationship has been constantly developed over the past half century towards “good neighborliness, traditional friendship, comprehensive cooperation, and long-term sustainability.”

Jointly creating a peaceful, stable environment for development

Both Vietnam and Cambodia have implemented a foreign policy of independence, self-reliance, multi-lateralization, and diversification of international relations. They treasure the consolidation of neighborliness on the basis of respect for each other’s sovereignty and territorial integrity, non-interference into each other’s internal affairs, equal and win-win cooperation, and settlement of arising problems by peaceful means.

Over the years, both sides have maintained and promoted cooperative mechanisms, exchanges of visits, and signing of agreements to advance their comprehensive cooperation.

The Vietnam-Cambodia relationship has made progress since last September when a new Cambodian government was established following the 6th National Assembly election. Party leader and President Nguyen Phu Trong’s visit to Cambodia in February, Prime Minister Hun Sen’s Vietnam visit in December 2018, and the visit to Vietnam by National Assembly Chairman Heng Samrin in May were milestones in bilateral ties.

Early this year, the two countries held their 10th meeting on cooperation and development of border provinces in Vietnam and commemorated the 40th anniversary of the war to defend Vietnam’s southwestern border and join Cambodians in overthrowing a genocidal regime. These events deepened the two countries’ tradition of uniting for national defense.

Boosting substantial cooperation

On the basis of good political relations, Vietnam and Cambodia have recently pushed investment and trade cooperation. Last year, bilateral trade reached 4.7 billion USD, a huge jump from 150 million USD 10 years ago. The two are likely to achieve their trade revenue target of 5 billion USD this year, one year earlier than planned.

By the end of last year, Vietnam had more than 200 investment projects in Cambodia with a total capital of more than 3 billion USD, focused on agriculture and forestry. Vietnam is in the top 10 foreign investors in Cambodia.

During Mr. Hun Sen’s visit to Vietnam, the two Prime Ministers will co-chair a meeting on investment and trade promotion.

The two countries have worked closely to manage their shared borderline. 84% of land border delineation and marker planting has been completed. On Friday, Prime Minister Nguyen Xuan Phuc and his Cambodian counterpart Hun Sen co-chaired a meeting to review the land border delineation and border marker planting over the past 3 years. The two will witness the signing of the first two legal documents recognizing the results of border delineation and marker planting.

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