Warm welcome: Najib being greeted by Khieu Kanharith when he arrived at Phnom Penh International Airport last night for a three-day official visit to Cambodia. From Jamaluddin Muhammad
PHNOM PENH, May 10 (Bernama) -- The five business agreements, worth US$1 billion, to be signed between the private sectors of Malaysia and Cambodia on Monday, is evidence of both countries commitment to enhance bilateral trade.
Prime Minister Datuk Seri Najib Tun Razak said the agreements to be inked would be in the halal industry, supply of poultry, education, bistro network and, identity card and passport security systems.
Speaking to Malaysian journalists here Monday, Najib said Cambodia had also agreed, in principal, to allow the CIMB Group to conduct banking business in the country.
CIMB will become the fifth Malaysian bank to operate in Cambodia after Maybank, Public Bank, HwangDBS and OSK Bank.
He also said Cambodian Prime Minister Hun Sen invited Malaysian companies to establish a rice mill in the country which has 3.5 million tonnes of rice available for export.
Najib said Hun Sen made the invitation during their meeting at the office of Council of Ministers.
Earlier, Najib attended the wreath laying ceremony at the Independence Monument, here before attending the "four-eye" meeting with his Cambodian counterpart.
Both leaders later led their respective delegation for an hour delegation meeting at the same venue.
Najib also held dialogue with Malaysian businessmen and investors in this country at a hotel, here, before Hun Sen joining him at the Malaysia-Cambodia Business Forum, here.
Later, Najib visited a Malaysian-based telecommunication giant Hello Axiata Operation Centre and the construction of the new complex of Embassy of Malaysia, here.
Najib and his wife Datin Seri Rosmah Mansor will attend an official dinner hosted by Hun Sen and his wife Bun Rany at a hotel, here, Monday night before concluding the second-day official visit.
-- BERNAMA
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Shared economic interest offers greater prospects, says Najib
PHNOM PENH, May 10 (Bernama) -– Datuk Seri Najib Tun Razak said strong regional and bilateral cooperation based on shared economic and strategic interest would open economies and lead to greater job creation, poverty eradication and gender equality.
"Liberalised trade is the tide that raises all ships in Asean," the Prime Minister said in his address at the Malaysia-Cambodia Business Forum and Luncheon here today.
Najib's is on a three-day official visit to Cambodia, beginning today, his first to that country after assuming office April last year.
The Prime Minister said Malaysia and Cambodia could not count on positive developments over the most recent years as the sole source of future successes as they must continue to work for improved trade relations.
Malaysia has been one of the biggest investor in Cambodia for 14 consecutive years with investment totalling US$2.19 billion (RM7.3 billion).
"Both governments have taken great steps to set up the appropriate framework for sustained cooperation in all economic and political areas and now is the time to mobilise their resources collectively for the economic development of Asean as a whole," he said.
Cambodian Prime Minister Hun Sen and 500 businessmen from both countries also attended the function.
"I strongly believe our two countries will be able to make important contributions through bilateral cooperation and active participation in Asean integration initiatives," Najib said.
He believed a primary challenge both countries must overcome was to broaden the number of goods traded between the two countries as their trade base, currently, was very narrow and confined to several products on both sides.
Malaysia's main exports to Cambodia include chemical products, machinery, appliances and electrical products while imports comprised mostly textile, clothing, raw rubber and logs.
The prime minister said there were opportunities to expand the scope of products and services that could be traded between the two countries.
"In fact, this is the challenge I want to pose to you, the members of the Malaysian and Cambodian business community present here today," he said.
Najib urged the business community to leverage the provisions of the Asean Free Trade Agreement (AFTA) and bilateral agreements between Cambodia and Malaysia to extend and deepen their sphere of cooperation through strategic alliances.
While noting that AFTA and other regional trade agreements had been concluded with China, Japan, Korea, Australia, New Zealand and India, he reiterated the political will of Asean member states to assume greater responsibility for the open trading system.
This very system, he said, would enable the member states to prosper and grow further and would also provide ample opportunities for the business community to expand its interest within the region and with regional grouping partners.
He said while governments opened the door for free trade through better agreements and promotional channels, the private sector had a substantive role to play in encouraging dialogue between governments, investors and consumers.
Najib said he would like to see the Malaysian Business Council of Cambodia and the Malaysia-Cambodia Business Council work together in the interest of trade and investment of both countries.
He also informed those present that the Malaysia External Trade Development Corporation would oganise a Malaysian Products and Services Exhibition in Phnom Penh in October to be participated by 30 Malaysian companies from various sectors .
The prime minister hoped the programme would encourage new Malaysian companies to venture into Cambodia and allow Cambodian businessmen to forge new partnerships with their Malaysian counterparts.
Najib also invited all Cambodian businessmen to participate in the Malaysia International Trade Exhibition (INTRADE 2010), saying that the exhibition, covering more than 40 sectors, would provide an excellent avenue for Cambodian companies to exhibit their products and services to the international market. (By Jamaluddin Muhammad/ Bernama)
Prime Minister Datuk Seri Najib Tun Razak said the agreements to be inked would be in the halal industry, supply of poultry, education, bistro network and, identity card and passport security systems.
Speaking to Malaysian journalists here Monday, Najib said Cambodia had also agreed, in principal, to allow the CIMB Group to conduct banking business in the country.
CIMB will become the fifth Malaysian bank to operate in Cambodia after Maybank, Public Bank, HwangDBS and OSK Bank.
He also said Cambodian Prime Minister Hun Sen invited Malaysian companies to establish a rice mill in the country which has 3.5 million tonnes of rice available for export.
Najib said Hun Sen made the invitation during their meeting at the office of Council of Ministers.
Earlier, Najib attended the wreath laying ceremony at the Independence Monument, here before attending the "four-eye" meeting with his Cambodian counterpart.
Both leaders later led their respective delegation for an hour delegation meeting at the same venue.
Najib also held dialogue with Malaysian businessmen and investors in this country at a hotel, here, before Hun Sen joining him at the Malaysia-Cambodia Business Forum, here.
Later, Najib visited a Malaysian-based telecommunication giant Hello Axiata Operation Centre and the construction of the new complex of Embassy of Malaysia, here.
Najib and his wife Datin Seri Rosmah Mansor will attend an official dinner hosted by Hun Sen and his wife Bun Rany at a hotel, here, Monday night before concluding the second-day official visit.
-- BERNAMA
-------------------------------------------------------
Shared economic interest offers greater prospects, says Najib
PHNOM PENH, May 10 (Bernama) -– Datuk Seri Najib Tun Razak said strong regional and bilateral cooperation based on shared economic and strategic interest would open economies and lead to greater job creation, poverty eradication and gender equality.
"Liberalised trade is the tide that raises all ships in Asean," the Prime Minister said in his address at the Malaysia-Cambodia Business Forum and Luncheon here today.
Najib's is on a three-day official visit to Cambodia, beginning today, his first to that country after assuming office April last year.
The Prime Minister said Malaysia and Cambodia could not count on positive developments over the most recent years as the sole source of future successes as they must continue to work for improved trade relations.
Malaysia has been one of the biggest investor in Cambodia for 14 consecutive years with investment totalling US$2.19 billion (RM7.3 billion).
"Both governments have taken great steps to set up the appropriate framework for sustained cooperation in all economic and political areas and now is the time to mobilise their resources collectively for the economic development of Asean as a whole," he said.
Cambodian Prime Minister Hun Sen and 500 businessmen from both countries also attended the function.
"I strongly believe our two countries will be able to make important contributions through bilateral cooperation and active participation in Asean integration initiatives," Najib said.
He believed a primary challenge both countries must overcome was to broaden the number of goods traded between the two countries as their trade base, currently, was very narrow and confined to several products on both sides.
Malaysia's main exports to Cambodia include chemical products, machinery, appliances and electrical products while imports comprised mostly textile, clothing, raw rubber and logs.
The prime minister said there were opportunities to expand the scope of products and services that could be traded between the two countries.
"In fact, this is the challenge I want to pose to you, the members of the Malaysian and Cambodian business community present here today," he said.
Najib urged the business community to leverage the provisions of the Asean Free Trade Agreement (AFTA) and bilateral agreements between Cambodia and Malaysia to extend and deepen their sphere of cooperation through strategic alliances.
While noting that AFTA and other regional trade agreements had been concluded with China, Japan, Korea, Australia, New Zealand and India, he reiterated the political will of Asean member states to assume greater responsibility for the open trading system.
This very system, he said, would enable the member states to prosper and grow further and would also provide ample opportunities for the business community to expand its interest within the region and with regional grouping partners.
He said while governments opened the door for free trade through better agreements and promotional channels, the private sector had a substantive role to play in encouraging dialogue between governments, investors and consumers.
Najib said he would like to see the Malaysian Business Council of Cambodia and the Malaysia-Cambodia Business Council work together in the interest of trade and investment of both countries.
He also informed those present that the Malaysia External Trade Development Corporation would oganise a Malaysian Products and Services Exhibition in Phnom Penh in October to be participated by 30 Malaysian companies from various sectors .
The prime minister hoped the programme would encourage new Malaysian companies to venture into Cambodia and allow Cambodian businessmen to forge new partnerships with their Malaysian counterparts.
Najib also invited all Cambodian businessmen to participate in the Malaysia International Trade Exhibition (INTRADE 2010), saying that the exhibition, covering more than 40 sectors, would provide an excellent avenue for Cambodian companies to exhibit their products and services to the international market. (By Jamaluddin Muhammad/ Bernama)
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