The Turkish business community here is working to establish a group to boost trade ties between Cambodia and Turkey.
Called ‘Bosphorus Cambodia Business Association’ (BCBA), the Turkish association will be the latest foreign business organisation in the Kingdom. The name “Bosphorus” refers to the strategic waterway in Turkey that forms part of the continental boundary between Europe and Asia.
The Kingdom already hosts the European Chamber of Commerce (Eurocham), the American Chamber of Commerce (Amcham), the Australian Chamber of Commerce (Auscham), the Indian Chamber of Commerce (Incham), the Canadian Chamber of Commerce (Cancham), the British Chamber of Commerce (Britcham), and the French Cambodian Chamber of Commerce and Industry (CCIFC), among others.
The registration of the organisation, according to sources, is close to completion. Its leadership and membership will comprise some of the most prominent Turkish businessmen in the country.
The organisation’s Facebook page says, “It would be a trade platform for business owners and companies in Turkey and Cambodia. It would connect businesses in the most efficient way.”
The organisation could also be a vehicle to promote Cambodia in Turkey and vice versa. In addition, it could also work with the Turkish Embassy to strengthen and broaden trade ties between the two countries.
The government is aiming to bring in more Turkish tourists to the Kingdom. Cambodia, according to the Ministry of Tourism, received 6,921 Turkish visitors in the first 11 months of 2018.
Earlier this year, Cambodia sent a delegation to the 23rd East Mediterranean International Travel and Tourism Exhibition 2019 (EMITT) that Turkey hosted. A direct flight between the two countries is being discussed.
With the Kingdom’s economy growing at an impressive rate, there is growing interest from many countries to invest here, including Turkey.
During Prime Minister Hun Sen’s visit to Turkey last year, both countries signed a raft of trade agreements and agreed to triple bilateral investments to $500 million by 2020.
Cambodia mostly exports clothing and footwear to Turkey, and buys petroleum products, medicines, and non-metallic mineral products.
Turkish investments in Cambodia include restaurants, garment factories, and a major international school.
There is also a small Turkish community in the Kingdom.