Malaysia, Cambodia Sign MoU On Cooperation In Green Technology

KUALA LUMPUR, Sept 11 (Bernama) -- Malaysia and Cambodia Thursday signed a Memorandum of Understanding (MoU) on the establishment of a framework for cooperation in the field of green technology. The MoU, among other things, aimed to enhance opportunities for economic and social development in both countries, as well as to promote the development of technologies, products, services, trade and market. Energy, Green Technology and Water Minister, Dr Maximus Johnity Ongkili said the MoU also contains provisions to develop capacity building, fostering business relations, exchange of information, sharing of institutional policy, regulatory framework, financial mechanisms and facilitation in green technology. "The inking of a bilateral MoU between Malaysia and Cambodia will catalyse the establishment of mutual cooperation for the advancement of green technology. "The identified areas of mutual collaboration are many as both nations have its own strength and weaknesses which will benefit through this cooperation," he said during his welcoming remarks before the signing ceremony here, Thursday. Dr Ongkili said within three years of the MoU's inception, there would be substantive mutual collaboration in the areas of renewable energy efficiency, electric mobility, integrated waste management and the promotion of green buildings. "With the population of more than 600 million and a nominal GDP (Gross Domestic Product) of US$2.31 trillion (RM 9.94 trillion), ASEAN is fast becoming a major economic force in Asia and a driver of global growth. "It is well reflected via the intra and extra ASEAN trade, which amounts to US$9.58 billion (RM 41.25 billion) in 2014," he said. The MoU was signed by Dr Ongkili on behalf of Malaysia while Cambodia's Environment Minister, Dr Say Samal for Cambodia. -- BERNAMA