Malaysia sets to boost trade, investment ties with Cambodia: ambassador

PHNOM PENH, June 21 (Xinhua) -- Malaysia is set to further enhance bilateral ties with Cambodia in the fields of trade and investment for the two countries' mutual interests, Malaysian ambassador to Cambodia Datuk Pengiran Mohd Hussein Bin Datuk Pengiran Haji Mohd Tahir Nasruddin, said Thursday.

He said one of the activities to promote the ties is trade fairs, and Malaysia will organize a trade exhibition in Phnom Penh on July 11-13 with the participation of some 22 Malaysian companies.

"Cambodia continues to be one of Malaysia's close trading partners in the ASEAN region thanks to good and longstanding diplomatic ties between the two governments," he told reporters.

He said the bilateral trade volume was 325 million U.S. dollars in 2011, up 42 percent from a year earlier, and during the first 4 months of this year, the trade volume continued to rise by an additional 4 percent to 104 million U.S. dollars from 100 million U.S. dollars in the corresponding period last year.

Cambodia's main export items to Malaysia are crude rubber, cereal, textile and clothing, metal products and machinery parts and appliances. Meanwhile, Malaysia's export items to Cambodia were textile and clothing, metal products, processed food, chemical substances, food and beverage and tobacco.

On the investment side, Malaysia's investment in Cambodia last year was 235 million U.S. dollars, up 41 percent from a year earlier, according to a report provided by the Malaysian embassy. The figure placed Malaysia second to Vietnam among top ASEAN investors in Cambodia in 2011.