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Deadly Collision Claims 67 Lives in U.S. Air Disaster | At Least 30 Dead and Many Injured in Stampede at Maha Kumbh Mela in India | Cambodia's Future Leaders Celebrated as Prime Minister Hun Manet Speaks at Asia-Europe University Graduation | The National Bank of Cambodia and Central Bank of Madagascar seal a partnership to enhance bilateral economic cooperation. | Minister of Health Delivers Lecture on Leadership and Innovation on "Methods of Critical Thinking – Part 2" | BREAKING: Takeo Provincial Court President Dismissed for Premature Release of Murder Convict | BREAKING: Samdech Hun Sen Announces Absence from Senate Plenary Session After Positive COVID-19 Test |

Many Areas Where Cambodia-Turkey Can Work Together to Boost Trade

  • Posted Jan 11, 2023 19:05 by EAC News
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The Minister of Agriculture of Turkey, Vahit Kirişci, has said that trade volume between Cambodia and Turkey can increase to $1 billion dollars per year by promoting the implementation of previously organized cooperation and establish cooperation in many other fields.

Speaking at a meeting with Prime Minister Hun Sen at the Peace Palace in Phnom Penh on Wednesday morning, the Turkish Minister of Agriculture said that Cambodia is a country that has the potential to export many products to Turkey, such as products related to agriculture, agricultural machinery, construction, information technology, processed food, especially halal food, education and aviation.

Prime Minister Hun Sen, in turn, supported cooperation in the stated areas and encouraged Turkish investors to come to Cambodia, with a focus on the agricultural sector.

The Prime Minister’s assistant, Eang Sophalleth, while speaking to the media after the meeting, quoted the Prime Minister as saying, "Cambodia has a lot of raw materials, such as cashews, potatoes, rubber, and rice that can be processed for export."

The Prime Minister also proposed the elimination of double taxation to boost exports and imports.

In early 2022, Cambodia and Turkey expressed commitment to reaching $1 billion dollars in bilateral trade volume a year.

According to a report by the Ministry of Commerce, for the first 11 months of 2022, the bilateral trade volume between Cambodia and Turkey reached $136.15 million dollars, an increase of about 63.6% compared to the same period in 2021.

Potential exports from Cambodia to Turkey include garments, textiles, shoes, umbrellas, travel accessories and more. Potential imports from Turkey to Cambodia include machinery, cotton, pharmaceutical products, glass, steel, plastic products and more.

On Wednesday morning, Prime Minister Hun Sen also received the Senior Policy Analysis Officer of the Secretariat of the Finance Working Group, Meylin Van. During the meeting, she urged Cambodia to lead other countries in the field of green financing and green development. The Prime Minister stated that Cambodia attaches great importance to green development, and the Royal Government of Cambodia initiated this work at the recent ASEAN Summit.


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