Malaysia and Cambodia sign halal food processing deal

Malaysia and Cambodia have signed six investment deals worth US$1 billion covering agriculture, supply of poultry and halal food processing among others.

The deals were reached during Malaysian Prime Minister Najib Razak's three-day visit to Cambodia, which wrapped up on May 11.

Razak and his Cambodian counterpart, Hun Sen, discussed a range of measures to beef up bilateral trade and investment relations and enhance cooperation at regional and international forums, especially within the Association of Southeast Asian Nations (Asean).

Hun Sen said the visit and accompanying Malaysian firms will promote cooperative ties between the two countries in the fields of politics, economy, security, culture and society.

Razak pledged to urge Malaysian companies to pour more investment in Cambodia, noting that Malaysia has retained its position as the biggest foreign investor in Cambodia over the past 14 years, with a combined volume of US$2.19 billion.

Malaysia-Cambodia two-way trade reached US$150 million in 2009. Malaysia has mainly exported electronic products, chemicals, gas, crude oil, machines and transport vehicles to Cambodia, while importing rubber, clothes and wood from this market.