Philippines and Cambodia Sign Several Agreements in 2025 to Promote Economic Growth
Cambodian Prime Minister Hun Manet concluded his visit to the Philippines on February 11th 2025 with a number of agreements signed and good intentions shown in trade, food security and hopes for better air connectivity with more direct flights.
The official state visit saw the two parties sign memorandums seeking to expand trade and economic cooperation further. In total, the two-day visit resulted in the signing of eight agreements between The Philippines and Cambodia which was the first overseas trip in 2025 for the Cambodian leader.
What Deals Were Signed Between Cambodia and the Philippines
At the Philippines-Cambodia Business Forum held on Monday 10th February 2025, the Philippine Chamber of Commerce and Industry (PCCI) and the Cambodia Chamber of Commerce (CCC) signed a memorandum of understanding (MOU) as a commitment to strengthen their business ties.
The forum attracted more than 240 participants and focused on expanding bilateral trade and investment across various sectors. These included; manufacturing, tourism, agriculture and food processing, IT and digital technology.
PCCI chairman George Barcelon highlighted opportunities in infrastructure development, tourism, and agriculture, while CCC vice president Oknha Sok Piseth shared their vision on embracing digitalisation and noting AI for improved productivity.
Suon Sophal, deputy secretary general of the Cambodian Investment Board at the Council for the Development of Cambodia, encouraged Filipino businesses to invest in Cambodia.
PCCI president Consul Enunina Mangio confirmed that Cambodian and Philippines-based businesses are seeking to explore partnerships as it sees Cambodia “not just as a market of 17 million people but also as a strategic partner in the ASEAN economic community and a gateway to the Mekong region.”
SEA Leaders Meet
Philippine President Ferdinand "Bongbong" Marcos Jr. met Cambodian Prime Minister Hun Manet on Tuesday 11th February for a bilateral meeting at Malacañang and the pair discussed cooperation in combatting transnational crimes, defence, trade, tourism, and regional and multilateral cooperation.
Hun Manet said before the talks began, “We are keen on taking our collaborations to (a) new height. I look forward to our discussions to deepen our engagement and unlock opportunities for shared growth and prosperity for our two nations and beyond.”
The Philippines Presidential Communications Office released a statement online saying, “The Philippines is open for business, and it welcomes Cambodian investors to put their money in the country” as per President Ferdinand R. Marcos Jr. declaration as the two leaders met in Manila.
President Ferdinand R. Marcos Jr. said “I am confident that through this engagement, we will see more Filipinos investing in Cambodia, and more Cambodians investing in the Philippines. To our friends from Cambodia, I wish to reiterate that the Philippines is open for business, and we welcome the opportunity to partner and achieve greater commercial successes with you.”
He added of the agreements signed that the “instruments will lead to more vibrant exchanges between Filipinos and Cambodians learning together, using their skills to advance our industries and our economies, as well as experiencing the hospitality, warmth, and natural wonders of our respective countries.”
Among the topics explored and commitments made were:
- Formal cooperation regarding avoiding double taxation - An agreement for the Elimination of Double Taxation with Respect to Taxes on Income and the Prevention of Tax Evasion and Avoidance. (In May 2024, Cambodia and the Philipines signed a double taxation agreement (DTA) after nearly five years of talks).
- Agreed to exchange information on strategies and practices in investment promotion and in attracting investments - MoU on Investment Promotion.
- Sharing best practices in competition law, which both nations view as essential for bilateral investments and economic activities between their business sectors - MOU on Implementation of Competition Law.
- MOU on the Cooperation in the Field of Technical Vocational Education and Training (TVET).
- Renewed agreement on preventing looting and trafficking of cultural properties - MOU on Prevention of Looting and Illicit Trafficking of Cultural Property.
- Seek collaboration on Information and Communications Technology (ICT) and government digital transformation - MOU on Cooperation in the Fields of Information and Communications Technology and Digital Transformation.
- MOU for the Implementation Program for Tourism for 2024-2028
Cambodia Offers Philippines Food Security
Cambodian Prime Minister Hun Manet confirmed their readiness to aid the Philippines’ food security issues by providing an additional supply of rice and other products.
Hun Manet said, “Cambodia stands ready to contribute to the Philippine food security through rice supply as well as many other food products.”
Marcos confirmed that the Philippines considers Cambodia “an important partner in ensuring food security,” adding that the agreement would help promote a “stronger collaboration in agriculture and in agribusiness".
- A MOU on Agricultural and Agribusiness Cooperation was signed but the details were not disclosed.
Increased Air Connectivity Between Cambodia and the Phillipines
The Cambodian Prime Minister urged Philippine Airlines to expand their operations in Cambodia and to consider new flight routes in Cambodia.
“I invite through President Marcos the Philippine carriers to explore additional routes. To support this initiative, Cambodia offers a new gateway to the world in our historical city of Angkor through our new Siem Reap-Angkor International Airport and later this year in our vibrant capital, Techo International Airport in Phnom Penh,” Hun Manet said.
The Cambodian leader said that tourism and connectivity are crucial for promoting people-to-people exchange.
Kith Meng, President of the Cambodia Chamber of Commerce and Chair of ASEAN-BAC Cambodia believes bilateral trade can grow from the current approximate US $110 million to exceed $800 million in four years.
Specific Filipino Companies Express Interest in Cambodian Investment
Hun Manet also received the delegations of three private Philippine companies, during his two-day official visit to the Philippines.
- San Miguel Corporation’s Mr. Ramon S. Ang, President and CEO expressed an interest in investing in major infrastructure projects in Cambodia
- Excellent Associates Group Limited’s President Mr. Dai Jianlaing expressed interest in exploring investment opportunities in industrial and agro-industrial parks, as well as rice processing and export to key markets.
- World Citi Group’s President & CEO Dr. Raymond Patrick V. Guico signed an MoU with Asia-Europe University of Cambodia at the opening of the Philippines-Cambodia Business Forum and expressed an interest in investing in health education and vocational training.
Currently, there are 24 bilateral agreements in place between the two nations and Cambodia and the Philippines will celebrate 70 years of diplomatic ties in 2027. There are thought to be around 8,000 Filipinos living and working in Cambodia, reported the Philippines Presidential Communications Office.