Logo of Phnom Penh Post newspaper Phnom Penh Post - Trade with Malaysia rises after visit by Najib

Trade with Malaysia rises after visit by Najib

Trade with Malaysia rises after visit by Najib

CAMBODIA’S trade with Malaysia is increasing in line with the world economy and benefited from the visit of Malaysian Prime Minister Najib Tun Razak to Phnom Penh in May, officials said yesterday.

Speaking at the first Malaysia trade fair, which began at Phnom Penh’s NagaWorld, the Malaysian ambassador Mohd Hussein Mohd Tahir Nasruddin said trade links between the two ASEAN members were becoming increasing strong.

“Cambodia is not only an important emerging market, but also an important destination for investments and sources of imports,” he said
The Malaysian Prime Minister’s May visit had encouraged investment from companies running hotels, restaurants, the beverage industry, and hospitals, he said, but he did not mention specific ventures by name.

During that trip deals said to be worth $1 billion were signed.

According to the Ministry of Commerce, bilateral trade totalled US$113.4 from January to the end of August 2010, which the Post calculated to be a 13.8 percent rise on trade worth $99.6 million for the same period of 2009.

The Malaysian ambassador added that Cambodia’s rice exports could increase in the future.

Cambodia’s Minister of Commerce Cham Prasidh said that under the ASEAN Free Trade Agreement, trade was likely to continue increasing as duties would be fully removed by 2015.

“Cambodia and Malaysia are dynamic market economies that depend on international trade for stimulating economic growth,” he added.
Francis WK Ng, sales manager at Amerseal Industrial, which sells glue and cleaning products, said yesterday: “Cambodia has lots of potential.”

MOST VIEWED

  • Stock photo agencies cash in on Khmer Rouge tragedy
    Stock-photo companies selling images from S-21 raises ethics concerns

    A woman with short-cropped hair stares directly into the camera, her head cocked slightly to the side. On her lap is a sleeping infant just barely in the frame. The woman was the wife of a Khmer Rouge officer who fell out of favour, and

  • Defence Ministry denies weapons in smuggling case came from Cambodia

    After a Thai national was arrested last week for allegedly smuggling guns from Cambodia to Thailand, Cambodia's Defence Ministry has claimed the weapons seized during the arrest are not used in Cambodia, despite the fact that both types of rifle seized are commonly found in

  • Prime Minister: Take back islands from inactive developers

    The government will “take back” land on roughly 30 islands from private companies that have not made progress on planned developments, Prime Minister Hun Sen said in a speech on Monday that also targeted land-grabbing villagers and idle provincial governors. Speaking at the inauguration of the

  • Land on capital’s riverfront is opened up for investment

    The government has signed off on a proposal to designate more than 9 hectares of land along Phnom Penh’s riverfront as state-private land, opening it up for private investment or long-term leasing. The 9.25-hectare stretch of riverfront from the capital’s Night Market to the