Malaysia and Cambodia on February 27 agreed to establish a Joint Trade Committee (JTC) this year to explore cooperation potential in trade, investment and tourism that will benefit both countries, Malaysian Prime Minister Anwar Ibrahim said.
At the joint press conference between Malaysian Prime Minister Anwar Ibrahim and his Cambodian counterpart Hun Manet. (Photo: VNA)
Kuala Lumpur (VNA) – Malaysia and Cambodia on February 27 agreedto establish a Joint Trade Committee (JTC) this year to explore cooperation potential in trade, investment and tourism that will benefit both countries, MalaysianPrime Minister Anwar Ibrahim said.
At a press conference with his Cambodian counterpart Hun Manet, he saidunder this new trade mechanism, both countries would explore cooperationbetween the Customs Departments to facilitate the flows of goods.
He added that they will seek to open new flight routes to expand connectivitybetween the two countries.
Earlier, the two PMs witnessed the exchange of amemorandum of understanding (MoU) on cooperation in financial innovationand payment systems between Bank Negara Malaysia and the National Bank ofCambodia.
The MoU between the two central banks is meaningful because this has been one ofthe pillars in terms of dealing with the issue or problem with currency.
Anwar stressed that using local currencieswill lessen the burden and the pressure of having to be tied only to the US dollar.
Cambodia was one of the first nations toestablish diplomatic relations with Malaysia in 1957. In 2023, Cambodia was the 9th largest trading partner of Malaysia in the Association of Southeast Asian Nations (ASEAN).
The valueof bilateral trade between Malaysia and Cambodia stood at 3.02 billion RM (over 632 million USD), withexports from Malaysia reaching 2.35 billion RM, representing a1.6% increase from the previous year.
Malaysiancompanies have implemented 162 projects in Cambodia with investments totaling 14.4billion RM (3 billion USD)./.
Malaysian Prime Minister Datuk Seri Anwar Ibrahim on February 23 officially launched the Tun Razak Exchange (TRX) as Malaysia's International Financial Centre (IFC).
Malaysia signed two memoranda of understanding (MoU) with Japan on February 22 to strengthen halal trade and investment, and create more jobs in the sector.
Maxis, one of the oldest and largest telecommunications companies in Malaysia, announced on February 23 that it and Chinese tech giant Huawei have successfully staged the first 5G-Advanced technology trial in Malaysia and Southeast Asia.
The International Greentech and Eco Products Exhibition and Conference Malaysia (IGEM) 2024 has targeted 4.8 billion MYR (1 billion USD) in business leads, 480 exhibitors and 48,000 visitors from over 48 countries, said Minister of Natural Resources and Environmental Sustainability Nik Nazmi Nik Ahmad.
The Republic of Korea (RoK), China and Japan agreed on May 3 to reinforce the regional financial safety net, along with members of the Association of Southeast Asian Nations (ASEAN), by launching a new financing facility programme meant to extend greater support in case of a financial crisis.
A technical issue combined with an extreme heatwave was blamed for a series of explosions at a military base that killed 20 soldiers and injured several others in Cambodia on April 27, the country’s Ministry of Defence said in a May 2 statement as reported by the Xinhua news agency.
The Customs Department of Thailand is scheduled to commence the collection of value-added tax (VAT) on imported goods sent via postal services, regardless of the goods value, starting in May.
A lecturer from Chulalongkorn University’s Faculty of Medicine has warned Thais to be more vigilant against COVID-19, saying infection rates appeare to be worsening with higher hospital admissions, deaths and severe cases.
Malaysia should harness the collective expertise and resources to drive sustainable growth and development of the halal industry, according to Minister of Investment, Trade and Industry Zafrul Abdul Aziz.
Laos has officially restored the 10% value-added tax (VAT) rate starting May 1, in a bid to support the country’s budget revenue and socio-economic development.
The ASEAN Future Forum 2024 (AFF 2024) entered its second plenary session in Hanoi on the afternoon of April 23, discussing ways to ensure comprehensive security for the people-centred ASEAN Community.
The first session of the ASEAN Future Forum 2024 (AFF 2024) in Hanoi on April 23 focused on fast and sustainable growth for the Association of Southeast Asian Nations (ASEAN).
The Canada-ASEAN Business Council (CABC) and the ASEAN Alliance on Carbon Markets (AACM) have signed a Memorandum of Understanding (MoU) to strengthen collaboration and accelerate the implementation of carbon crediting programmes across Southeast Asia.
ASEAN Secretary-General Kao Kim Hourn reaffirmed ASEAN leaders' commitment to empowering the youth to unleash their full potential when he had a dialogue with ASEAN youth in Hanoi on April 22 on the sidelines of the ASEAN Future Forum (AF 2024).
The Thai Government is being urged to increase the proportion of renewable power generation to more than the target of 50% set in the power development plan (PDP).
The Centre for Volcanology and Geological Hazard Mitigation (PVMBG) of Indonesia on April 21 lifted its tsunami advisory issued previously following the eruption of Mount Ruang in Sitaro district of North Sulawesi province.
Thailand expects to export about 1 million tonnes of durian, valued at an estimated 130 billion THB (3.53 billion USD) this year, with most of the shipments to China, according to Minister of Agriculture Thammanat Prompao.
The 72nd meeting of the ASEAN Working Group on Intellectual Property Cooperation (AWGIPC) and related meetings are being held by the Ministry of Science and Technology’s Intellectual Property Office (IPO) of Vietnam in the central city of Da Nang on April 22-26.
Enhancing regional food security and tackling the pressing challenges of climate change will be key agendas defining Malaysia’s ASEAN Chairmanship in 2025, Speaker of the Dewan Rakyat (lower house) Johari Abdul told the press on April 19.
At the joint press conference between Malaysian Prime Minister Anwar Ibrahim and his Cambodian counterpart Hun Manet. (Photo: VNA)
