'Malaysia and Cambodia can boost trade links'
SIEM REAP: Malaysia and Cambodia are set for
stronger trade and economic ties in the future by riding on the robustness of
various business sectors.
They include banking, tourism, agriculture, textile, manufacturing, port, energy, infrastructure, telecommunications and property.
International Trade and Industry Minister Datuk Seri Mustapa Mohamed said bilateral trade between the two countries has been growing at an average rate of 10 per cent for the past 10 years, well above the growth of world trade at six to seven per cent.
"Cambodia is one of the fastest growing Asean economies right now and there are many Malaysian businessmen with many success stories here.
"They include
an independent power producer, banks and tourism operators, with more coming
in," Mustapa said after an informal meeting with Cambodia's senior minister and
minister of commerce Cham Prasidh, here, yesterday.
Mustapa is also here for the 44th annual Asean Economic Ministers meeting.
According to the Cambodian Investment Board, the agency, as at November last year, had approved a total of 121 projects from Malaysia worth a total of US$6.1 billion (RM18.97 billion).
Bilateral trade totalled US$324.8 million in 2011, up 34.4 per cent from US$229.6 million in 2010.
Bilateral trade is in Malaysia's favour, in that Malaysia exported US$258.2 million worth of products to Cambodia compared to imports of US$66.6 million.
However, the trade is confined to Malaysia's exports of textile, manufactures of metal, processed food and chemicals while imports by Malaysia are limited to rubber and rice.
There are a total of 1,693 Malaysian companies registered in Cambodia with huge investments coming from Nagacorp Ltd, Cambodia Public Bank, OSK Indochina Bank Ltd, Muhibbah Engineering (Cambodia) Co Ltd, Hello Axiata and Sunway City Cambodia Ltd.
There are a total of about 2,000 Malaysians working and doing business in Cambodia.
On another note, Mustapa said Cambodia has also requested for Malaysia's assistance in halal procedures and standards.
Mustapa said Cambodia has a lot to offer to Malaysian companies, such as its textile and tourism industries.
Read more: 'Malaysia and Cambodia can boost trade links' http://www.btimes.com.my/Current_News/BTIMES/articles/asean27/Article/index_html#ixzz24nTCgtNX
They include banking, tourism, agriculture, textile, manufacturing, port, energy, infrastructure, telecommunications and property.
International Trade and Industry Minister Datuk Seri Mustapa Mohamed said bilateral trade between the two countries has been growing at an average rate of 10 per cent for the past 10 years, well above the growth of world trade at six to seven per cent.
"Cambodia is one of the fastest growing Asean economies right now and there are many Malaysian businessmen with many success stories here.
Mustapa is also here for the 44th annual Asean Economic Ministers meeting.
According to the Cambodian Investment Board, the agency, as at November last year, had approved a total of 121 projects from Malaysia worth a total of US$6.1 billion (RM18.97 billion).
Bilateral trade totalled US$324.8 million in 2011, up 34.4 per cent from US$229.6 million in 2010.
Bilateral trade is in Malaysia's favour, in that Malaysia exported US$258.2 million worth of products to Cambodia compared to imports of US$66.6 million.
However, the trade is confined to Malaysia's exports of textile, manufactures of metal, processed food and chemicals while imports by Malaysia are limited to rubber and rice.
There are a total of 1,693 Malaysian companies registered in Cambodia with huge investments coming from Nagacorp Ltd, Cambodia Public Bank, OSK Indochina Bank Ltd, Muhibbah Engineering (Cambodia) Co Ltd, Hello Axiata and Sunway City Cambodia Ltd.
There are a total of about 2,000 Malaysians working and doing business in Cambodia.
On another note, Mustapa said Cambodia has also requested for Malaysia's assistance in halal procedures and standards.
Mustapa said Cambodia has a lot to offer to Malaysian companies, such as its textile and tourism industries.
Read more: 'Malaysia and Cambodia can boost trade links' http://www.btimes.com.my/Current_News/BTIMES/articles/asean27/Article/index_html#ixzz24nTCgtNX
Source : Business Times
Date : 28 Aug 2012
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