Singapore (VNA) - Singapore and Cambodia on June 18 signed an agreement to strengthen cooperation in digital government.
The Memorandum of Understanding was signed by Cambodian Minister of Post and Telecommunications Chea Vandeth and Singaporean Senior Minister of State for Communications and Information Janil Puthucheary.
The ceremony was witnessed by Singaporean Prime Minister Lawrence Wong and his Cambodian counterpart Hun Manet.
The Cambodian leader is on his official visit to Singapore from June 18-19. On the occasion, the Monetary Authority of Singapore (MAS) and the National Bank of Cambodia (NBC) announced the start of the Financial Transparency Corridor (FTC) initiative between the two countries.
The agreement on this effect was signed in July 2023 and aims to promote increasing cross-border financial services between small- and medium-sized enterprises of both countries. The first group of participating financial institutions is currently underway, with the first direct financial transactions set to begin in the second half of 2024.
Earlier the same day, Hun Manet received a ceremonial welcome and called on President Tharman Shanmugaratnam. They reaffirmed the warm and longstanding ties between Singapore and Cambodia, as both countries look towards the 60th anniversary of the establishment of diplomatic relations next year. The two sides also discussed strengthening cooperation in areas such as trade and investment, financial transparency, and food and water security.
Prime Minister Lawrence Wong also hosted an official dinner for his Cambodian couterpart./.
