Development, Trade and Foreign Affairs
Commerce Ministers of Cambodia and Korea officially announced the conclusion of their bilateral FTA negotiations on 03 Feb 2021 via video conference. The two countries agreed to launch the feasibility study in Busan in November 2019, and started their first round of negotiation in July 2021.
Based on the Korea Times, Minister Yoo Myung-hee underscored the importance of this FTA as a mean to “pave the way for the two countries to overcome challenges from Covid-19 pandemic, and seek sustainable economic growth”.
This bilateral FTA covers a wide range of issues for cooperation, including Trade in Goods, Trade Remedies, Rules of Origin, Customs Procedures and Trade Facilitation, Economic Cooperation and Legal and Institutional Issues.
Both Parties agreed to complete all necessary domestic procedures toward the signing of the Cambodia-Korea FTA at the end of May 2021 in Korea or in early Jul 2021 in Cambodia.