Phnom Penh, 7 April 2023 (TDI): The Kingdom of Cambodia and the Republic of Türkiye have virtually discussed procedures to reach an economic partnership soon. The Ministry of Foreign Affairs of Cambodia announced
Cambodia and Türkiye are earnestly committed to enhancing their cooperation in the domains of commerce, economy, and investment.
In order to investigate the economic benefits of drafting an Economic Partnership Agreement, both countries are diligently working on a feasibility study.
The Cambodian delegation was headed by the distinguished Tekreth Kamrong, Secretary of State for the Ministry of Commerce. At the same time, the Director General of International Agreements and EU Affairs at the Ministry of Trade, Hüsnü Dilemre, led the Turkish delegation.
Moreover, the Turkish Ambassador to Cambodia, Ülkü Kocaefe, actively participated in the virtual meeting held on April 5, 2023, thereby further strengthening the bond of collaboration between these two nations.
During the discussion, both sides noted the two countries’ thriving relations and cooperation, particularly in the economic, trade, and investment sectors.
They also expressed satisfaction with successfully hosting the third meeting of the Cambodia-Türkiye Joint Economic Commission (JEC), which took place in Phnom Penh in January this year.
The two sides fostered tight interaction in the commercial sector, notably between their respective Chambers of Commerce.
Last year, the bilateral trade volume between Cambodia and Türkiye was valued at around US$152 million, a rise of over 70% over the amount in 2021.
Potential Cambodian exports to Türkiye included garments, bicycles, mangoes, longan, rubber, cassava, corn, pepper, milled rice, organic chemicals, and tobacco. On the other hand, potential Turkish imports to Cambodia included textiles, machinery, and electrical equipment.
Cambodia and Türkiye have developed a positive relationship over the years, growing from a modest trade partnership to a more comprehensive political and economic relationship.
The two nations share mutual respect, culture, and traditions, leading to strengthened diplomatic ties and partnerships across various sectors.
Cambodia and Türkiye share common ground regarding foreign policy, advocating for multilateralism, regional stability, and respect for sovereignty. Cambodia and Türkiye also have significant cultural similarities dating back centuries.