Phiyorin Tep, Director General of the Cambodian Ministry of Economy and Finance, stated that they have initiated efforts towards SME banking in their country and that they came to OSTİM to examine successful practices related to SMEs.
Phiyorin Tep, stating that they are conducting research on a financing model for SMEs in their country, said, “It is necessary to establish an important balance mechanism here. Large businesses should be taxed more, while small businesses are supported. Because there are thousands of people working in small businesses. Therefore, governments need to have a mission to establish a balance by educating SMEs and providing financial support.”
The delegation also exchanged views on the suitability of the OSTİM model for Cambodia.
OSTİM Foreign Trade Coordinator Dr. Meral Gündüz provided the Cambodian delegation with information about the sectors and production capabilities of companies operating in OSTİM, the OSTİM ecosystem, and clusters.
OSTİM Chairman Orhan Aydın drew attention to the importance of SMEs in the economy. Emphasizing that developed countries around the world also prioritize SMEs, Aydın stated that OSTİM is an example of how Ankara's industrialization was achieved through SMEs, and that they are ready to share the OSTİM model with Cambodia.
The delegation also had questions answered regarding how OSTİM clusters and firms benefit from state aid and how the support system works. Following the meeting, the Cambodian delegation conducted inspections at firms in the region.
Cambodian economy
Cambodia, with a population of 15 million, has a gross domestic product of $16.9 billion. Textiles, clothing, footwear, electrical machinery and equipment, and rice are among the country's main export items. Intermediate garments, petroleum products, construction materials, machinery, motor vehicles, cosmetics, and pharmaceuticals are among Cambodia's main imports.
According to data from the Turkish Statistical Institute, the trade volume between Turkey and Cambodia is approximately $108 million. Some of the products exported from Turkey to Cambodia include: coal tar and crude oil products; vitamins, hormones, alkaloids, antibiotics, pharmaceuticals, medical supplies, textile fibers and products; non-metallic mineral products; clothing and accessories, footwear, etc.; other means of transport; communication equipment, sound recording devices; and land transport vehicles. Products imported from Cambodia include:
Turkey's total bilateral official development assistance to Cambodia between 2004 and 2013 amounted to $910,000. To date, Turkey has implemented projects in Cambodia through TIKA (Turkish Cooperation and Coordination Agency) totaling $717,000, including road construction, computer equipment assistance, and school building.
Source: http://www.mfa.gov.tr/
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