As part of a push to rapidly ramp up Turkish investment in Cambodia, the Commerce Ministry hosted a “matchmaking” event in Phnom Penh’s Raffles Hotel Le Royal on Tuesday with 12 Turkish technology firms to dozens of local businesspeople.
Looking to sell their products and establish joint ventures in the country, the companies—members of the Turkish Electro Technology Exporters’ Association (TET)—displayed everything from electronic appliances and wiring to oil refining and water purification systems.
“We are at the first stage of exploring business opportunities in Cambodia,” said Fatih Ebiclioglu, chairman of TET, adding that one challenge for Turkish firms is “limited experience with Cambodia business and business environment.”
Mr. Ebiclioglu said he was “100 percent sure that Cambodia is a gateway for Asean region” as Turkey looks to expand its investments abroad.
“Southeast Asia, in particular, will play a more visible role in Turkey’s international, economic and trade relations in the near future,” said Ilhan Kemal, Turkey’s Ambassador to Phnom Penh.
In March, Turkey announced plans to increase bilateral trade from about $124 million last year to $500 million by 2020.