Singapore and Cambodia have formally aligned to advance their collaboration in the realm of digital government. The noteworthy Memorandum of Understanding was ratified by Cambodia’s Minister of Post and Telecommunications, Chea Vandeth, and Singapore’s Senior Minister of State for Communications and Information, Janil Puthucheary. This momentous occasion transpired in the presence of Singaporean Prime Minister Lawrence Wong and his Cambodian counterpart, Hun Manet.
The official visit of the Cambodian leader to Singapore, which commenced on June 18th, is aimed at further fortifying the bilateral relations between the two nations. Notably, the Monetary Authority of Singapore (MAS) and the National Bank of Cambodia (NBC) concurrently introduced the Financial Transparency Corridor (FTC) initiative, intended to foster broader access to cross-border financial services for small- and medium-sized enterprises in both countries. It is crucial to note that the aforementioned agreement was initially inked in July 2023. This initiative is poised to facilitate direct financial transactions between the two nations, commencing in the latter half of 2024.
During his visit, Hun Manet received a ceremonial welcome and engaged in discussions with President Tharman Shanmugaratnam, wherein they reaffirmed the enduring and amicable relations between Singapore and Cambodia. They also articulated their joint anticipation for the forthcoming 60th anniversary of diplomatic ties between the two countries. Additionally, the two leaders explored discussions pertaining to the expansion of cooperation in pivotal areas such as trade and investment, financial transparency, as well as food and water security.
As a gesture of hospitality, Prime Minister Lawrence Wong extended an official dinner to his Cambodian counterpart, further solidifying the bond between the two nations.
This development signifies a significant stride in the partnership between Singapore and Cambodia, emphasizing the mutual resolve to collaborate for the advancement of digital government and financial transparency. We can look forward to productive collaborations and shared prosperity to emanate from this initiative, setting a positive precedent for the future of the bilateral relations between the two countries.
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