Phnom Penh: A bilateral trade agreement between Cambodia and the Republic of Korea will be officially signed next week. The Ministry of Commerce says the signing ceremony will be held virtually between the Minister of Commerce, Pan Sorasak, and South Korea’s Minister of Trade, Yoo Myung-hee.

The Free Trade Agreement was finalised in February this year by the two countries. The bilateral FTA with South Korea will broaden markets for Cambodian products. Bilateral trade between the two countries was valued at $885 million in 2020. This represented an 18% decrease on 2019, but the drop in trade has been attributed to the pandemic.

A Free Trade Agreement with China is also expected to be signed before the end of the year.