Cambodia seeks to improve business ties with Turkey

Sept 11, 2011 Source: todayszaman Cambodia expects to improve its current trade relations with Turkey and boost bilateral investments, the country’s trade minister, Cham Prasidh, told the Cihan news agency in İstanbul Saturday.

Prasidh was in Turkey to participate in the 80th İzmir International Fair (İEF). The minister met with members of the Association for Social and Economic Solidarity with Pacific Countries (PASİAD) in İstanbul on Saturday. Evaluating Cambodia’s business relations with Turkey, Prasidh said Cambodia wants to share Turkey’s experience in making new investments and to cooperate with Turkey in third markets. “Turkey is one of the fastest-growing countries in the world, and Cambodia hopes to branch out into new markets. Both countries could help each other with joint investments in third markets.” The minister said his government is committed to offering the best conditions possible for new Turkish investments in the country. Currently the largest Turkish-owned investment in Cambodia is the Turkish Zaman University in Phnom Penh, the first Turkish university in the Far East. The university was opened by Deputy Prime Minister Bülent Arınç in February. Recalling Arınç’s visit to his country early in the year, Prasidh said Turkish investments in Cambodia are lower than he would like and that they should be increased. Businesspeople from the two countries met at a Turkish-Cambodian Trade and Investment Forum organized by the Turkish Confederation of Businessmen and Industrialists (TUSKON) in February during Arınç’s visit. Prasidh said Cambodia especially needs investment in its technological infrastructure and that Turkey could help in this regard. “We have the necessary raw materials and we need technical support to use them. Turkey and Cambodia could join forces to make this happen,” he said. Prasidh went on to say that opportunities exist for Turkish entrepreneurs in Cambodia’s home appliance, electronics and ready-wear sectors. Turkey imported $24 million in goods from Cambodia last year and exported goods worth $3 million to the Southeast Asian country in the same period.