RI BANKS INVITED TO OPEN BRANCHES IN CAMBODIA

Jakarta, May 23 (ANTARA) - The Cambodian government is inviting Indonesian banks to open their branches in Cambodia to facilitate Indonesia's exports to the Indochinese country.

Cambodian Trade Minister Cham Prasidh in a press statement issued on Saturday said his country was also inviting Indonesian companies to expand their businesses in Cambodia in support of its exports and imports.

Under Cambodian laws, Indonesian businessmen could buy farm commodities, including rice, from local farmers without any restriction for reexport, Cham said.

"They only need to obtain business permits from the Trade Ministry," he said when receiving Indonesian Ambassador Extraordinary and Plenipotentiary to the Cambodian Kingdom Ngurah Swajaya in Phnom Penh on Thursday.

On the occasion, Cham also expressed support for the Indonesian embassy's plan to organize a trade and tourism expo in Phnom Penh in the third week of November 2009.

The expo was expected to serve as a venue for businessmen of the two countries to hold business meetings. ***