Malaysia and Cambodia are on track to achieve a US$1 billion bilateral trade volume this year, driven by expanding economic cooperation and diversification.
PHNOM PENH: Malaysia and Cambodia are poised to surpass the US$1 billion bilateral trade mark this year as economic ties strengthen.
Total trade between the nations has reached RM3.975 billion (US$961.4 million), according to the Malaysia External Trade Development Corporation.
This represents significant growth from last year’s US$855.6 million in two-way trade.
MATRADE is currently hosting a business seminar and matching session in Phnom Penh to strengthen bilateral trade and investment ties.
“The objective of this programme is to create a result-oriented platform for Malaysian exporters and Cambodian importers, distributors, and buyers,” said MATRADE Export Promotion and Market Access Division Director Mazlan Harun.
The event provides insights into business opportunities and potential collaboration areas between both countries.
“We are meeting at a time when businesses everywhere are navigating uncertainties,” Mazlan added.
“As a member state of ASEAN, Malaysia stands ready to be a long-term partner in this journey with Cambodia, our strategic trading partner.”
Cambodia’s economy, supporting 17 million people, is forecast to grow by about 5% this year.
The kingdom offers an ideal market for Malaysian exporters, particularly in fast-moving consumer goods.
Trade between the nations shows increasing product diversification and strong business linkages.
Malaysian Ambassador to Cambodia Shaharuddin Onn noted that bilateral relations have expanded beyond traditional governmental engagements.
“(Now) it includes a vibrant and dynamic private sector collaboration, people-to-people ties, and expanding trade and investment flows,” he said.
Cambodian Commerce Ministry Secretary of State Sim Sokheng expressed confidence in achieving the US$1 billion trade target.
“We can make it happen. There are challenges here, but there are also opportunities in Cambodia for Malaysian businesses,” he said.
