ECONOMY

2015 12 03

Turkish brands seek expansion in Cambodia

20 Turkish companies part of Istanbul Chemicals and Chemical Products Exporters’ Association.

Turkish cosmetics brands looking to push further into the Southeast Asian market have met in the Cambodian capital, an embassy official said Wednesday.

Recep Eris, the second secretary for the Turkish Embassy in Phnom Penh, told Anadolu Agency that the 20 Turkish companies are part of the Istanbul Chemicals and Chemical Products Exporters’ Association.

The companies’ 29 Turkish representatives met with officials from about 80 Cambodian companies Tuesday “to get acquainted with each other”, Eris said, adding that as of yesterday, he had not received word of any formal agreements being inked.

“They told me they have businesses in Vietnam and Thailand, so they are familiar with this market and they are trying to explore more markets,” he said.

In October, Eris told Anadolu Agency that another Turkish electrical services association also held a meeting in Phnom Penh a few months ago to explore business opportunities here.

In February, Turkish Ambassador Ilhan Tug said bilateral trade between Cambodia and Turkey grew by $119 million to $124 million in the space of a decade, but that it is forecasted to rise to $500 million before the end of 2020.

A joint economic commission was also set up that month by Cambodian Commerce Minister Sun Chanthol and Turkey’s Minister for Science, Industry and Technology Fikri Isik, but a planned joint business council has yet to be established.

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