Laos and Cambodia recently signed three agreements aimed at strengthening their bilateral relations and fostering greater cooperation. The agreements were witnessed by Cambodian Prime Minister Hun Manet and Laotian Prime Minister Sonexay Siphandone during a signing ceremony in Phnom Penh, following a meeting between the two leaders.
One of the key agreements was focused on eliminating double taxation on income and preventing tax evasion and avoidance between the two countries. This agreement, signed by Cambodian Minister of Economy and Finance Aun Pornmoniroth and Laotian Minister of Finance Santiphab Phomvihane, marks Cambodia’s 12th double taxation agreement (DTA) with another country, reflecting its commitment to improving economic relations and investment flows.
In addition to the tax agreement, Cambodia is currently negotiating DTAs with several other countries, including Japan, Myanmar, Morocco, the United Arab Emirates, France, and Qatar. These agreements are part of Cambodia’s broader efforts to expand its international trade and ensure more favorable conditions for cross-border investments.
The two countries also signed memoranda of understanding (MOUs) aimed at enhancing cooperation in agriculture, culture, and the arts. These MOUs are expected to promote further collaboration in these sectors, fostering a deeper cultural and economic relationship between Cambodia and Laos.
Despite these efforts, the trade value between Cambodia and Laos remains relatively modest. According to Cambodia’s official statistics, Cambodia’s imports from Laos totaled around $185.13 million during the first 10 months of this year, reflecting a 14.4 percent year-on-year increase. However, exports from Cambodia to Laos remain limited, indicating room for growth in bilateral trade.
