PHNOM PENH, April 2 (Xinhua) -- Cambodian and Thai securities market regulatory authorities on Wednesday signed a Memorandum of Understanding (MoU) on consultative cooperation and information exchange in stock markets.
The deal was inked between Ming Bankosal, director general of the Securities and Exchange Commission of Cambodia (SECC), and Vorapol Socatiyanurak, secretary general of the Securities and Exchange Commission of Thailand (SECT), under the presence of Cambodian finance minister Aun Pornmoniroth.
Under the deal, the two securities regulators would provide mutual consultation, cooperation and exchange of information, Bankosal said after the signing ceremony.
"The MoU is a milestone in our bilateral relationship and is a step forward in our regional cooperation and integration," he said. "It will provide an opportunity for the two regulatory authorities to promote greater cooperation and information sharing."
Bankosal said to realize the regional vision of ASEAN Capital Market Linkage, efforts in promoting regional capital market cooperation should move beyond the current phase of information exchange toward a more constructive phase of capital market development and more solid financial sector for boosting businesses and economic growth.
"As a part of various regional forums in financial sector, SECC is committed to working together with all ASEAN peers to strengthen and develop capital market," he said.
The Cambodian Security Exchange (CSX), which is in a developing stage, launched trading securities in 2012. So far, only one enterprise, the state-owned Phnom Penh Water Supply Authority, has listed on the market.
For his part, Socatiyanurak said the MoU truly showed good relations between the two regulatory institutions and expressed confidence that it would contribute to further improving bilateral ties between Thailand and Cambodia.