President Ferdinand R. Marcos Jr. and Cambodian Prime Minister Hun Manet have agreed to strengthen the ties between their countries through agriculture, education, trade, and other investments.
President Marcos made the announcement in a joint press conference following Tuesday’s bilateral meeting with the visiting Cambodian leader in Malacañan Palace.
The President shared several cooperation agreements signed between the two countries, particularly in key areas such as trade and investment, agriculture, education, tourism, and communications.
They included the Agreement on the Elimination of Double Taxation, which reduces tax burdens for investors from both countries to secure more bilateral investments.
Both sides also witnessed the signing of a Memorandum of Understanding (MOU) on the Implementation of Competition Law to boost inbound investments and promote a business-friendly environment.
“I also note that our two sides have signified their intention to exchange information on strategies and practices in investment promotion and in attracting investments,” President Marcos said.
The President acknowledged Cambodia as an important partner in ensuring food security in the Philippines.
He signed an MOU on Agricultural and Agribusiness Cooperation, covering agricultural planning and further enhancing international trade and agribusiness investments between the two countries.
On people-to-people ties, the President formally cooperated on Technical Vocational Education and Training (TVET) and agreed on the Implementation Program for Tourism for 2024-2028. Both cover a multitude of activities like exchanges of knowledge and training individuals.
The two countries also welcomed a formal collaboration on Information and Communications Technology (ICT) and government digital transformation through exchanges of expertise and training.
The President highlighted Cambodia’s renewed commitments to defense cooperation, the prevention of looting, and the illicit trafficking of cultural properties.
The Philippines and Cambodia established diplomatic ties in 1957. Since then, the friendship between the two countries has further evolved in terms of bilateral cooperation and within the context of the Association of Southeast Asian Nations (ASEAN). | PND
