The agreement will further boost Cambodia’s exports to South Korea like garments, textiles, footwear, bags, spare parts, electronics, rubber and agricultural products.
The FTA would expand trade liberalisation in markets in addition to the ASEAN-Korea Free Trade Agreement (AKFTA) and the Regional Comprehensive Economic Partnership Agreement (RCEP).
The FTA was discussed and drafted by the two countries’ expert working group in 2021. It was officially signed via a video conference by the Cambodian minister of commerce Pan Sorasak and his South Korean counterpart YEO Han-Koo on October 26 last year.
ALCHEMPro News Desk (DS)
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