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Cambodia,Brazil ink deal to boost cooperation on diplomacy,trade ,investment

PHNOM PENH, March 2 (Xinhua) — Cambodia and Brazil on Friday signed a Memorandum of Understanding (MoU), aiming at boosting bilateral cooperation on politics, trade and investment.

The MoU was inked between Ouch Borith, Cambodia’s secretary of state at the Ministry of Foreign Affairs and International Cooperation, and Maria Edileuza Fontenelle Reis, undersecretary- general for Asia of the Brazilian External Relations Ministry.

Speaking to reporters after the signing ceremony, Ouch Borith said that the MoU was to promote bilateral cooperation in all fields, especially in politics, agriculture, trade and investment.

He said that in terms of politics, Brazil said it would support Cambodia’s candidacy for the non-permanent member of the United Nations Security Council (UNSC) in a vote in October this year.

For the economic and trade relations, Brazil will arrange visits of its businesspeople to Cambodia in the near future.

Meanwhile, Maria promised to encourage Brazilian investors to Cambodia in the fields of automobile industry, bio-ethanol industry and agriculture.

Trade between Cambodia and Brazil is relatively small, and on the investment side, so far, there is no Brazilian investors put their ventures in Cambodia, according to the record of the Council for the Development of Cambodia.

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