Русский
Russia and Cambodia have been discussing the expansion of their bilateral trade, including increasing supplies of fertilizer from Russia, following meetings between Russian Deputy Prime Minister Alexei Overchuk and Cambodian Prime Minister Hun Manet in Kuala Lumpur. They held meetings on the sidelines of the 20th East Asia Summit, which is currently taking place.
A Russian government press release stated, “Alexei Overchuk and Hun Manet discussed the current state and outlook for the development of trade and economic cooperation between Russia and Cambodia, including the implementation of joint projects in energy, agriculture, and industry. Given the developed agricultural sector of the Cambodian economy, special attention was devoted to possibilities for increasing shipments of Russian fertilizer, establishing cooperation in seed production, and expanding the list of agricultural products for shipment to each other’s markets.”
Overchuck stated, “We are interested in increasing the scale of trade with Cambodia and in balancing export and import shipments. Russia is prepared to help ensure the food and energy security of the Kingdom of Cambodia.”
Hun Manet expressed the Cambodian side’s willingness to help organize the necessary bilateral contacts, saying that the two sides “agreed to develop transport links and new supply chains between Russia and Cambodia. Prospects for developing partnership relations between Russia and Cambodia in both a bilateral format and in multilateral associations were discussed in this context.”
Cambodia is also in the process of negotiating a Free Trade Agreement with the Eurasian Economic Union (EAEU), which includes Russia, along with Armenia, Belarus, Kazakhstan, and Kyrgyzstan. Fellow ASEAN member Vietnam, a neighboring country, already has a successful FTA with the bloc.
Russia and Cambodia signed a plan of cooperation agreements between the two-year period 2025−2027 earlier this year and are preparing to sign a protocol between the customs services of the two countries. This protocol, initiated by the Russian side, focuses on cooperation in customs administration, information exchange, and mutual assistance and is expected to boost bilateral cooperation under the Eurasian Economic Union’s preferential tariff system.
Bilateral trade between Russia and Cambodia has dropped in recent years, from US$239.4 million in 2021 to an estimated US$55 million in 2024. The reasons for this decline are not immediately political, although sanctions against Russia have impeded trade. Cambodian markets are somewhat difficult to reach from Russia, with most trade having to pass via China, and Russian businesses concentrating on developing both the Chinese and Vietnamese markets, leaving Cambodia somewhat neglected. However, customs unity and a free trade agreement should help pave the way for increased trade and investment volumes. It should be noted that Overchuk and Hun Manet discussed transport links and improved supply chains in this regard.
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