Cambodia and Laos have committed to further deepen their cooperation in the securities sector following the successful conclusion of their third bilateral meeting held on Friday in Siem Reap province.

The Securities and Exchange Regulator of Cambodia (SERC) hosted the bilateral meeting headed by SERC Director-General Sou Socheat, and Phengsy Phengmuong, Secretary-General of the Lao Securities Commission Office (LSCO).

The event was attended by high-level management and officials from relevant departments of both regulators and aimed at strengthening bonds between the two neighbouring nations.

It aimed to reinforce the implementation of the Memorandum of Understanding (MoU) between the SERC and LSCO on “Information Exchange and Mutual Assistance”, signed on August 10, 2023.

The ongoing partnership showed the commitment of the two parties to discuss important developments, information sharing about the market update and explore new collaboration to support the financial inclusivity of both countries as well as the region.

In the meeting, they emphasized the importance of cooperation and mutual learning as both authorities have been working to advance their securities markets, address new digital technologies and promote sustainable financial practices.

The SERC shared the experiences and knowledge on six topics such as the role of the Co-chair of the Asean Working Committee on Capital Markets Development, Cambodian Securities Market Update, Securities Intermediaries Supervision, Derivatives Market Operations Supervision in Cambodia, Digital Assets Development in Cambodia, and sustainable finance.

Additionally, under the framework of this cooperation, Rating Agency of Cambodia Plc. (RAC) which is a credit rating agency accredited by the SERC, has also been granted permission to operate as a credit rating agency in Laos.

Socheat shared the journey together, from exchanging knowledge and technical experiences to realising real market linkages, highlighting that “we are not only collaborating, but also achieving meaningful progress together”.

“This cooperation is especially significant, as both our regulators are committed to fostering trust in securities markets, enhancing regulatory effectiveness, and addressing the financing needs of our economies and communities,” he said.

“At a time when fintech is transforming financial services and sustainable finance is an urgent global priority, our collaboration reflects how shared values and joint efforts can drive inclusive, resilient, innovative and future-ready securities markets.”

Phengmuong stated that the two sides have witnessed significant and tangible benefits resulting from our ongoing partnership.

“This engagement has enabled our regulatory body to adopt best practices, embrace innovative approaches, and integrate new insights into our policy and regulatory frameworks.

“This has contributed to the sustainable development of our capital markets.”