ANKARA: As Cambodia and Turkey aim to increase bilateral trade to $500 million by 2020, a visiting Turkish trade mission arrived in the Kingdom yesterday, seeking out local partners for trade in electrical goods – one of Turkey’s leading export sectors.
Attending the business matchmaking event organised by the Turkish Electro Technology Exporters Association, Commerce Minister Sun Chanthol said that as bilateral trade increases he hoped Turkish businesses would look to Cambodia to set up production hubs for the manufacturing of goods, like televisions, household appliances and electrical components.
Obviously, we will first import products from them. If they find it financially feasible, they will invest to look at setting up manufacturing here,” Chanthol said.
According to Chanthol, trade between the two countries was $59 million in 2012 and has increased to $124.4 million in 2014. Turkey’s electronic sector accounted for nearly $13 billion in exports last year, with nearly 60 per cent being shipped outside of the European Union.
Turkish ambassador to Cambodia Ilhan Kemal Tug said that the two countries were drafting an investment protection agreement that would “set the basis for bilateral investments to explore more trade opportunities”.
