Cambodia: After FTA with China, S. Korea next in line to negotiate free trade agreement

A free trade agreement negotiation between Cambodia and the Republic of Korea has been scheduled to kick-start shortly.

This was said by Pan Sorasak, Minister of Commerce when meeting Park Heung-Kyeong, Ambassador of S. Korea to Cambodia, at the ministry office.

Mr Sorasak spoke highly of the flourishing collaboration between Cambodia and S. Korea economically, politically and commercially.

He also asked Mr Kyeong to help encourage more Korean investors to Cambodia for investment opportunities, especially in technology, e-trade, and processed agricultural products, electronic devices, and auto-parts.

Free trade agreements don’t just reduce and eliminate tariffs, they also help address behind-the-border barriers that would otherwise impede the flow of goods and services; encourage investment; and improve the rules affecting such issues as intellectual property, e-commerce and government procurement.

Cambodia, as part of its sustained and concerted plan to diversity its economy and export markets, is focusing on bilateral free trade agreements as compared with multi lateral agreements due to its salient benefits.

It is believed that the FTA with China would enable more than 90 percent of Cambodian products to enter China without duty, boosting exports as well as trade. Lim Nary – AKP