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US$1 Billion Business Deals Evidence Of Trade Commitment
 
News From : DagangHalal.com (5/11/2010)

PHNOM PENH, May 10 (Bernama) -- The five business agreements, worth US$1 billion, to be signed between the private sectors of Malaysia and Cambodia on Monday, is evidence of both countries commitment to enhance bilateral trade.


Prime Minister Datuk Seri Najib Tun Razak said the agreements to be inked would be in the halal industry, supply of poultry, education, bistro network and, identity card and passport security systems.


Speaking to Malaysian journalists here Monday, Najib said Cambodia had also agreed, in principal, to allow the CIMB Group to conduct banking business in the country.


CIMB will become the fifth Malaysian bank to operate in Cambodia after Maybank, Public Bank, HwangDBS and OSK Bank.


He also said Cambodian Prime Minister Hun Sen invited Malaysian companies to establish a rice mill in the country which has 3.5 million tonnes of rice available for export.


Najib said Hun Sen made the invitation during their meeting at the office of Council of Ministers.


Earlier, Najib attended the wreath laying ceremony at the Independence Monument, here before attending the "four-eye" meeting with his Cambodian counterpart.


Both leaders later led their respective delegation for an hour delegation meeting at the same venue.


Najib also held dialogue with Malaysian businessmen and investors in this country at a hotel, here, before Hun Sen joining him at the Malaysia-Cambodia Business Forum, here.


Later, Najib visited a Malaysian-based telecommunication giant Hello Axiata Operation Centre and the construction of the new complex of Embassy of Malaysia, here.


Najib and his wife Datin Seri Rosmah Mansor will attend an official dinner hosted by Hun Sen and his wife Bun Rany at a hotel, here, Monday night before concluding the second-day official visit.


-- BERNAMA

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