Cambodia and Philippines sign MOU to boost agricultural and SME development during ASEAN summit

PHNOM PENH: Duke Kith Meng and Jose Ma. A Concepcion III set to sign MOU for Cambodia-Philippines Agricultural and Development Partnership during the in Indonesia.

According to the announcement from the Cambodian Chamber of Commerce (CCC), during the 43rd ASEAN Summit and Related Summits in the Republic of Indonesia, Duke Kith Meng, CCC President and Chairman of the ASEAN Business Advisory Council for Cambodia, to sign a Memorandum of Understanding (MOU) for the Cambodia-Philippines Agricultural and SME Development Partnership with Mr. Jose Ma. A Concepcion III, Chairman of the ASEAN Business Advisory Council for the Philippines.

The MOU will be signed during the summit in the presence of Hun Manet, Prime Minister of the Kingdom of Cambodia, and H.E. Ferdinand “Bongbong” Romualdez Marcos Jr., President of the Philippines.

The MOU promotes cooperation between Cambodia and the Philippines in agriculture, small and medium enterprises (SMEs), and rural development. The two countries will work together to exchange information and expertise, develop joint projects, and attract investment.

The signing of the MOU is a significant milestone in the relations between Cambodia and the Philippines. It reflects the strong commitment of the two countries to work together to promote economic development and improve the lives of their people.

Cambodia's trade with the Philippines rebounded by nearly 28% in 2022, following a brief decline due to the COVID-19 pandemic.

This was according to Philippine Ambassador to Cambodia Maria Amelita C. Aquino, who also noted that the Philippine private sector is already active in Cambodia, particularly in the pharmaceuticals and agro-products manufacturing sectors. There are an estimated 5,000 to 7,000 Filipinos living in Cambodia at present.

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