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Cambodia, Korea to Sign Free Trade Agreement This Month

Phnom Penh: Cambodia and South Korea are scheduled to sign a Free Trade Agreement this month, although no specific date has been set. The Undersecretary of State and the Spokesman for the Ministry of Commerce, Pen Sovicheat, says the countries wrapped up negotiations on the establishment of the bilateral free trade agreement in February.

If the Covid-19 situation shows some improvement, the Minister of Commerce will lead a delegation to South Korea to sign the pact in person, but if the situation does not allow, then the signing will take place online. As planned, the two sides are committed to signing the agreement on time.

Bilateral trade relations between Cambodia and South Korea have been running smoothly. During the first eight months of 2021, the trade volume between the two reached more than $514 million, an increase of 11.52% compared to the same period in 2020. Cambodia has exported more than $129 million in goods to South Korea, while imports from South Korea have totalled more than $385 million.

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