Malaysian Industry Minister calls for stronger cooperation with Cambodia

The Malaysian Ministry of International Trade Industry aims to reduce the trade deficit between Cambodia and Malaysia, Minister Datuk Darell Leiking said in an exclusive interview with Khmer Times.

However, Datuk Darell said current data does not consider Malaysian investments in Cambodia and thus may not accurately depict trade between the two countries.

“Trade is not just the physical movement of goods between both countries. It also includes investments and, in this regard, many Malaysian companies are very much industrialised here, especially in the food and beverage sector,” he said, highlighting the need for his ministry to continue to support these businesses in the Kingdom.

“We would like to bring in products from Cambodia as well,” Datuk Darell said.

Datuk Darell also said his ministry hopes to educate and train Cambodians working for companies that export goods to Malaysia.

“We invite Cambodians to come over. As we are employing both Malaysians and Cambodians, we would like to improve. This requires the help of the Cambodian government,” Datuk Darell said.

Datuk Darell said he welcomes a double taxation avoidance agreement recently signed by the two nations.

“The tourism and business sectors of both countries will benefit and it will attract more investment to Cambodia,” he said.

On the matter of the potential revocation of Cambodia’s Everything-but-Arms (EBA) status in the European Union, Datuk Darell said that the cancellation of the scheme will be bad news for other suppliers of raw materials like Malaysia.

“The Europeans should rethink because it’s easier for them to judge you from a height,” he said, pointing that Malaysia faces a similar situation with a ban on palm oil.

Datuk Darell said he hopes the EBA is not cancelled as this will only increase the burden on the Cambodian people.

“It’s a sad thing they have targeted Cambodia and I believe this matter will be raised during the next Asean meeting,” Datuk Darell said, adding that he believes countries in the region are very aware of the challenges and are working to improve the situation.

Datuk Darell also said there are more areas in which Malaysia and Cambodia can collaborate further and alongside other Asean countries, noting that he believes the region will be a major player in the global economy in the future.This news from (khmertimekh.com)