China News Service Kuala Lumpur, February 27 (Reporter Chen Yue) Malaysian Prime Minister Anwar Ibrahim and Cambodian Prime Minister Hun Manet announced on the 27th that the two countries agreed to establish a joint committee this year to strengthen bilateral, investment and tourism cooperation.
Anwar said that under the Joint Commission mechanism, Malaysia and Cambodia will strengthen cooperation between customs to facilitate the movement of goods. He said the two countries have great potential to boost palm oil, rice and other products.
Anwar said Malaysia has invested more than US$3 billion in Cambodia. Under the new cooperation mechanism, Malaysia will further increase its investment in Cambodia and hope to attract more Cambodian investment.
Anwar said that the two countries will also increase flights between the two countries under the new cooperation mechanism, enhance people-to-people ties between the two countries and promote tourism cooperation between the two countries.
Anwar and Hun Manet also witnessed the signing of a memorandum of understanding on financial innovation and payment systems between relevant institutions of both sides. Anwar believes that the signing of this MOU will help facilitate bilateral settlement between Malaysia and Cambodia in local currency. He said that at present, Malaysia, China, Thailand, Indonesia and other countries settle in their own currencies and account for a considerable proportion of the total bilateral amount; Promoting settlement in local currencies will reduce "the burden and pressure of being pegged to the US dollar only".
Hun Manet arrived in Malaysia on 27 June for a one-day visit, which was his first official visit to Malaysia since he assumed the post of Cambodian prime minister last year. (ENDS).