China, Vietnam, Malaysia, Cambodia Deepen Multilateral Cooperation to Forge a Shared Future

April 13, 2025 12:16 PM AEST | By Cision

China, Vietnam, Malaysia, Cambodia Deepen Multilateral Cooperation to Forge a Shared Future — Image source: Kalkine Media

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HONG KONG, April 13, 2025 /PRNewswire/ -- This is an analysis report by Amelie from Hong Kong Commercial Daily:

Against the backdrop of the Belt and Road Initiative (BRI)'s deepening implementation, China's multilateral cooperation with Southeast Asian nations—Vietnam, Malaysia, and Cambodia—has entered a new phase of synergy. Rooted in ancient trade ties, these partnerships draw on historical connections: Vietnam maintained close exchanges with China since the Qin and Han dynasties as a key node on the Maritime Silk Road; Cambodia's Angkor Empire engaged in tributary trade with the Yuan Dynasty; and Malaysia's Malacca historically served as a pivotal hub for East-West commerce. These legacies now bolster modern collaboration.

In recent years, China and the three nations have established comprehensive cooperation frameworks. Vietnam remains China's largest trading partner within ASEAN, with bilateral trade hitting $260.65 billion in 2024—the fourth consecutive year exceeding $200 billion. Malaysia, home to the BRI's flagship East Coast Rail Link (ECRL) project, is advancing partnerships in digital innovation and green energy. Meanwhile, Cambodia's Sihanoukville Special Economic Zone, a model of industrial collaboration, has attracted 202 enterprises and generated approximately 32,000 local jobs.

Multilateral mechanisms continue to strengthen. Under the Regional Comprehensive Economic Partnership (RCEP), over 90% of goods traded among the four countries will eventually enjoy zero tariffs. The Lancang-Mekong Cooperation (LMC) framework has spurred breakthroughs in cross-border economic zones and agricultural projects involving China, Cambodia, and Vietnam. Collaboration now extends to emerging sectors like digital technology and renewable energy, reflecting evolving global dynamics.

Marking the 10th anniversary of the BRI, accelerated strategic alignment is underway. Key connectivity projects—such as the China-Laos Railway's planned extension to Cambodia, Malaysia's ECRL set for completion in 2026, and smart cross-border ports between China and Vietnam—are poised to elevate regional economic integration. With digital and green economies emerging as growth engines, this quadrilateral cooperation is expected to inject fresh momentum into building a closer China-ASEAN community with a shared future.

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