ISLAMABAD, MAY 28 (DNA) —Pakistan and Cambodia on Tuesday signed a Memorandum of Understanding (MoU) on the establishment of a joint trade committee.

The deal was inked in Phnom Penh between Cambodian Minister of Commerce Cham Nimul and Pakistani Ambassador to Cambodia Zaheeruddin Babar Thaheem, Xinhua reported while quoting a news release from Cambodia’s Ministry of Commerce.

“This MoU will significantly contribute to the elevation of the two countries’ relations, particularly on trade and economic cooperation,” Nimul said at the event.

“The joint trade committee established under this memorandum will serve as a mechanism that allows both sides to explore ways to create favourable conditions for businesses and investors and to diversify economies, expand production bases, and foster bilateral trade,” she added.

Under the MoU, both countries will work together and actively engage the private sectors, including chambers of commerce and business associations, to promote trade and economic activities, the news release said. The two sides will exchange information on trade, promote small and medium enterprises, and boost mutual exports, it added. — DNA