The Philippines and Cambodia have reinforced their bilateral relations by signing key agreements in agriculture, education, trade, and investment. President Ferdinand R. Marcos Jr. and Cambodian Prime Minister Hun Manet made the announcement following their bilateral meeting at Malacanang Palace on Tuesday.
Among the agreements signed was the Agreement on the Elimination of Double Taxation, aimed at reducing tax burdens and encouraging more bilateral investments. Additionally, both nations signed a Memorandum of Understanding (MOU) on the Implementation of Competition Law, which seeks to create a business-friendly environment and attract inbound investments.
“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 stated.
Recognizing Cambodia’s role in ensuring the Philippines' food security, the two countries signed an MOU on Agricultural and Agribusiness Cooperation. The agreement focuses on agricultural planning, trade, and agribusiness investments to enhance food production and supply chains.
Strengthening people-to-people ties, both nations formalized agreements on Technical Vocational Education and Training (TVET) and a Tourism Implementation Program for 2024-2028, covering knowledge exchanges and skills training. Further collaboration was also established in Information and Communications Technology (ICT) and government digital transformation through expertise sharing.
In the realm of cultural and security cooperation, both leaders reaffirmed commitments to defense collaboration, prevention of looting, and the fight against illicit trafficking of cultural properties.
The Philippines and Cambodia have maintained diplomatic ties since 1957, with relations continuing to strengthen within the ASEAN framework. This latest engagement underscores both countries' commitment to mutual growth and regional cooperation.
