In a significant move to strengthen bilateral relations, the Philippines and Cambodia have signed eight agreements covering a range of sectors including trade, investment, agriculture, education, tourism, and information and communications technology (ICT). The signing ceremony took place during a bilateral meeting at Malacañan Palace in Manila, attended by President Ferdinand R. Marcos Jr. and Cambodian Prime Minister Hun Manet on February 11, 2025.
One of the key agreements is aimed at eliminating double taxation on income, which is expected to ease the tax burden on investors from both nations and encourage more bilateral investments. Additionally, a memorandum of understanding (MOU) was signed to enhance competition law implementation, fostering a more attractive environment for investments.
The leaders also agreed on a memorandum of intent to share strategies and practices for promoting and attracting investments. President Marcos expressed optimism that these agreements would draw more Cambodian businesses to invest in the Philippines, emphasizing the country’s openness to business partnerships.
In the agricultural sector, an MOU was signed to boost cooperation in agricultural planning and agribusiness investments, with Marcos highlighting Cambodia’s role as a crucial partner in ensuring food security and promoting collaboration in agriculture.
Further agreements include MOUs on Technical Vocational Education and Training (TVET) and a tourism implementation program for 2024-2028, aimed at enhancing knowledge exchange and training. Marcos noted that these agreements would foster vibrant exchanges between Filipinos and Cambodians, benefiting their industries and economies.
In the realm of ICT, an MOU was signed to promote government digital transformation through expertise and training exchanges. Marcos stated that this would lead to mutually beneficial initiatives, including technical expertise sharing and capacity-building projects.
Lastly, an agreement was reached to prevent the looting and illicit trafficking of cultural property, reaffirming both nations’ commitment to preserving cultural heritage and facilitating expert exchanges.
President Marcos concluded by expressing confidence in further advancing cooperation in customs, higher education, and culture, indicating a strong future for bilateral relations between the Philippines and Cambodia.