Cambodia and Türkiye to Reach Economic Partnership Agreement Soon

The Kingdom of Cambodia and the Republic of Türkiye have virtually discussed mechanisms to further promote their bilateral cooperation in the areas of economy, trade and investment for feasibility study to analyse economic benefits in order to reach a formulation of Economic Partnership Agreement.

The Cambodian side was led by H.E. Tekreth Kamrong, Secretary of State for the Ministry of Commerce, whereas the Turkish side was headed by H.E. Hüsnü Dilemre, Director General of International Agreements and EU Affairs of Ministry of Trade.

H.E. Ms. Ülkü Kocaefe, Ambassador of Türkiye to Cambodia, also participated in the online meeting held on April 5.

During the discussion, both sides noted thriving relations and cooperation between both countries so far, especially in economic, trade and investment sectors, and were satisfied with the successful host of the 3rd Meeting of Cambodia-Türkiye Joint Economic Commission (JEC), which took place in Phnom Penh in January this year.

The two sides encouraged close cooperation between the private sector, particularly between the Chambers of Commerce of both countries.

Last year, the bilateral trade volume between Cambodia and Türkiye was worth some US$152 million, an increase of about 70 percent compared to figure in 2021. Potential exports from Cambodia to Türkiye included garments, bicycles, mangoes, longan, rubber, cassava, corn, pepper, milled rice, organic chemicals, and tobacco while potential imports from Türkiye to Cambodia were textile, machinery and electrical equipment, vehicles and spare parts, and copper objects.

Source: Agence Kampuchea Presse (AKP)