Cambodia and Turkey to expand mutual business and investment

PHNOM PENH: Cambodia and the Republic of Turkey have mulled possibilities for mutual business and investment cooperation.

The intention was discussed during Business Meeting presided over by Cambodian Minister of Commerce H.E. Pan Sorasak and visiting Turkey Minister of Agriculture and Forestry H.E. Dr. Vahit Kirisci, at the Cambodia Chamber of Commerce (CCC) on Jan. 12.

The Cambodia-Turkey Business Meeting was co-led by Neak Oknha Kit Meng, Chair of CCC and also Chair and CEO of the Royal Group, and Mr. Mahir Alp, Chair of Cambodia-Turkey Business Council.

H.E. Dr. Vahit Kirisci noticed Cambodia's rapid economic development and hoped to foster investment cooperation with Cambodia, especially in agriculture, textile, automobile, renewable energy, and manufacturing.

H.E. Pan Sorasak appreciated the meeting that allowed the private sectors of both countries to discuss business and investment for mutual benefits.

He briefed the Turkey side about Cambodia's estimated economic growth of 6.6. percent for 2023, effective COVID-19 containment, a geographical advantage for investments, favorable logistics, and physical infrastructure, and enabling legal mechanisms.

Neak Oknha Kith Meng updated the guests about Cambodia's export markets within ASEAN Plus Partnership, the Regional Comprehensive Economic Partnership (RCEP) Agreement, Cambodia's Free Trade Agreement (FTA) with China, South Korea, and beyond.

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