Chambers sign pact to boost trade ties
Published on: Thursday, May 08, 2025
Published on: Thu, May 08, 2025
By: Bernama Text Size: Sok (right) exchanges an MoU with his Malaysian counterpart Ng. PHNOM PENH: The Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) and Cambodia Chamber of Commerce (CCC) have launched a joint initiative to enhance economic cooperation and increase bilateral trade. The two chambers signed a memorandum of understanding (MoU) on Tuesday to formalise their collaboration, according to a statement from CCC. ACCCIM President Datuk Ng Yih Pyng said the delegation aimed to partner with its Cambodian counterpart to explore new economic opportunities in the Kingdom. 'The main objective of the visit is to explore potential cooperation and promote sustainable events in Asean,' said Ng. The MoU sets out a framework for promoting economic ties and encouraging trade and investment between both countries. Bilateral trade between Malaysia and Cambodia reached about RM3.7 billion (US$865 million) in 2024. Malaysia's key exports to Cambodia include petroleum products, chemicals, textiles, apparel, footwear, metals, and non-metallic mineral products. Cambodian officials pointed to the country's young and energetic workforce, a productive investment climate, and supportive government policies as key advantages. 'There is a close economic relationship between Cambodia and Malaysia, strong trade demand, and Malaysian investment in key sectors,' said CCC Vice President Sok Piseth, according to the statement. * Follow us on Instagram and join our Telegram and/or WhatsApp channel(s) for the latest news you don't want to miss. * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available.
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