Cambodia, Malaysia expand cooperation in trade, investment, tourism
Cambodia and Malaysia on September 3 signed two pacts to boost bilateral trade, investment and tourism in the witness of Cambodian Prime Minister Samdech Techo Hun Sen and his visiting Malaysian counterpart Mahathir Mohamad.
Cambodian Prime Minister Samdech Techo Hun Sen (R) and his visiting Malaysian counterpart Mahathir Mohamad (Photo: AFP)
Hanoi (VNA) – Cambodia and Malaysiaon September 3 signed two pacts to boost bilateral trade, investment andtourism in the witness of Cambodian Prime Minister Samdech Techo Hun Sen andhis visiting Malaysian counterpart Mahathir Mohamad.
Speaking at a joint press conference after thesigning ceremony, Hun Sen said two-way trade surpassed 400 million USD in thefirst six months of this year, and he believes that the figure will increasefurther thanks to the freshly-signed pacts, including the agreement on doubletaxation avoidance.
According to the Council for the Development ofCambodia, Malaysia is the fifth largest foreign investor in Cambodia over the pastfive years. The kingdom attracted a total investment of 481 million USD fromMalaysia during the 2014-2018 period.
To further boost bilateral trade and investmentactivities, Hun Sen said he and his Malaysian counterpart agreed to allow concernedagencies of the two countries to explore ways to expand cooperation in variousfields.
Apart from the double taxation avoidanceagreement, Cambodia and Malaysia signed a Memorandum of Understanding (MoU) ontourism cooperation.
According to Hun Sen, the two countries areconsidering the use of one visa for both nations, meaning that foreign touristsgetting visas to enter Malaysia can also visit Cambodia, and vice versa.
The two ASEAN member states are also innegotiations towards a MoU on defence cooperation.
For his part, Mahathir said he also exchangedviews with Hun Sen on regional and global issues of common interest andconcern.
The two leaders shared their views that theRegional Comprehensive Economic Partnership (RCEP) will contribute to regionaleconomic integration and growth as well as in safeguarding multilateral tradingsystem.
The two leaders agreed to conclude thisagreement within this year.
The Malaysian Prime Minister is paying anofficial visit to Cambodia from September 2.-VNA
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Cambodian Prime Minister Samdech Techo Hun Sen (R) and his visiting Malaysian counterpart Mahathir Mohamad (Photo: AFP)
