Malaysia and Cambodia to Establish Joint Trade Committee to Boost Economic Cooperation
Malaysia and Cambodia Strengthen Economic Ties
Malaysia and Cambodia have discussed the proposal to establish the Malaysia-Cambodia Joint Trade Committee (JTC) to optimize trade promotion, said Minister of Investment, Trade, and Industry, Tengku Datuk Seri Zafrul Abdul Aziz. The JTC could also serve as a platform to create investment opportunities and enhance economic cooperation between the two countries.
Growing Economic Relationship
According to Tengku Zafrul, Malaysia and Cambodia share a deep economic relationship with an increase in trade volume, investment flows, and cooperation projects across various sectors. "In 2024 alone, the trade volume grew by more than 40 per cent, reaching US$191 million (US$1=RM4.453)," he said. "This reflects an extraordinary growth in bilateral trade between Malaysia and Cambodia," he added.
ASEAN Economic Ministers Retreat
Tengku Zafrul will chair the 31st ASEAN Economic Ministers (AEM) Retreat in Desaru today, which is expected to be attended by over 200 delegates from 10 ASEAN member countries and Timor-Leste. The retreat aims to discuss various issues related to trade, investment, and economic cooperation among ASEAN member states.
Boosting Economic Cooperation
The establishment of the JTC is part of the government’s efforts to boost economic cooperation between Malaysia and Cambodia. The committee will provide a platform for both countries to discuss and address issues related to trade and investment, as well as identify new opportunities for cooperation.
Benefits of JTC
The JTC will also serve as a platform for both countries to strengthen their economic ties, increase investment flows, and promote cooperation in various sectors, including trade, tourism, and infrastructure development. This will ultimately lead to increased economic growth and prosperity for both countries.
Conclusion
In conclusion, the establishment of the Malaysia-Cambodia Joint Trade Committee (JTC) is a significant step towards strengthening economic cooperation between Malaysia and Cambodia. The JTC will provide a platform for both countries to discuss and address issues related to trade and investment, as well as identify new opportunities for cooperation. This will ultimately lead to increased economic growth and prosperity for both countries.
Frequently Asked Questions
Q: What is the purpose of the Malaysia-Cambodia Joint Trade Committee (JTC)?
A: The JTC is a platform for Malaysia and Cambodia to discuss and address issues related to trade and investment, as well as identify new opportunities for cooperation.
Q: What are the benefits of the JTC?
A: The JTC will provide a platform for both countries to strengthen their economic ties, increase investment flows, and promote cooperation in various sectors.
Q: What is the current state of trade between Malaysia and Cambodia?
A: The trade volume between Malaysia and Cambodia has grown by more than 40 per cent in 2024, reaching US$191 million.