Cambodia and Bangladesh made a fresh push yesterday to revive bilateral trade initiatives, with the two leaders of the countries signing nine memoranda of understanding (MoUs) and one agreement in support of trade, economy, investment and technical cooperation initiatives.
The 10 deals are expected to enhance bilateral ties and strengthen economic cooperation between the two developing countries.
The signing of the deals follows Bangladeshi Prime Minister Sheikh Hasina’s first official state visit to Cambodia, where she met with Prime Minister Hun Sen.
“Our discussions had very fruitful results which I consider as an important part of the work we need to do together as developing countries,” Hun Sen said during a press conference following the signing ceremony.
The nine MoUs are focused on strengthening labour and vocational training initiatives, increasing tourism and investment, supporting the fisheries industry and establishing a joint trade council.
An agreement of cooperation was signed between Shafiul Islam, president of the Federation of Bangladesh Chambers of Commerce and Industries, and Kith Meng, president of the Cambodian Chamber of Commerce.
“I believe that the signing of MoUs on the joint trade council and the agreement between our two apex chambers will contribute to boosting bilateral trade and investment,” said Hasina during the press conference.
Bangladesh’s ambassador to Thailand and Cambodia told The Post earlier this year that trade between the two nations remained relatively low, amounting to just $6.7 million annually.
Additionally, in August the two countries signed an MoU for the shipment of 1 million tonnes of Cambodian rice over the next five years that has yet to materialise.