A business forum slated for Tuesday in Kuala Lumpur, Malaysia, is poised to foster stronger ties in trade, investment, and economy between C...
A business forum slated for Tuesday in Kuala Lumpur, Malaysia, is poised to foster stronger ties in trade, investment, and economy between Cambodia and Malaysia. Co-organized by key chambers of commerce from both nations, the event coincides with Prime Minister Hun Manet's official visit to Malaysia on February 27.
Highlighting the significance of the forum, Vice President of the Cambodia Chamber of Commerce, Lim Heng, underscores its role in promoting investment opportunities and attracting Malaysian investors to Cambodia. With Malaysia already a major investor in sectors like real estate and garment manufacturing, the forum aims to facilitate further collaboration and streamline trade procedures.
During the forum, Prime Minister Hun Manet is expected to deliver a keynote address and oversee the signing of Memorandums of Understanding (MoUs) about trade cooperation between the chambers of commerce of both countries. These agreements aim to bolster bilateral trade relations and create a conducive environment for mutual investment.
Heng expresses optimism about attracting more Malaysian investors and businesses to Cambodia post-forum. By leveraging the event as a platform to promote Cambodian investment laws and trade agreements, stakeholders anticipate a surge in Malaysian interest in Cambodia's growing economy.
Prime Minister Hun Manet's one-day visit to Malaysia underscores the importance both nations place on strengthening bilateral ties. Accompanied by high-ranking officials and business leaders, discussions with Malaysian counterpart Anwar Ibrahim will focus on enhancing cooperation, particularly in trade and economic sectors.
An integral part of the visit includes the signing ceremony of an MoU between the National Bank of Cambodia and Bank Negara Malaysia. This collaboration aims to foster innovation and improve payment systems, facilitating smoother financial transactions between the two countries.
The trade relationship between Cambodia and Malaysia remains robust, with bilateral trade reaching $632 million in 2023. While Cambodia's exports to Malaysia experienced a slight decline, efforts to diversify trade products are underway to further strengthen economic ties.
With both nations committed to fostering stronger economic bonds, the forum in Kuala Lumpur serves as a pivotal platform for dialogue and collaboration. As Cambodia continues to attract foreign investment and Malaysia seeks new opportunities abroad, the stage is set for deeper cooperation and mutual prosperity.
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