PHNOM PENH: Cambodia has requested Korea Trade-Investment Promotion Agency (KOTRA) to invest in the processing and packaging of agricultural products such as cassava, longan, rubber, banana, durian, mango, and other tropical fruits, to boost the export of Cambodian-rich agricultural produce with good quality to the Korean markets.
The request was made by Cambodian Minister of Commerce H.E. Pan Sorasak, while meeting with Mr. YU Jeoung Yeol, President and CEO of KOTRA, at its Head Office in Seoul, Republic of Korea (ROK) late last week. H.E. Pan Sorasak highly appreciated KOTRA’s roles and contribution to Cambodia’s economic development.
H.E. Minister laid stress on the entry into force of the Cambodia-ROK Free Trade Agreement (CKFTA) in December 2022, saying that this is an appropriate time to discuss trade and economic promotion, and increase the use of Cambodia-ROK FTA.
For his part, Mr. YU Jeoung Yeol strongly believed that the CKFTA would improve bilateral trade which could lead to increased cooperation in the fields of digital technology and agriculture and more.
The KOTRA President and CEO added that over 200 Korean companies are currently investing in Cambodia, and KOTRA is attracting more Korean investors, especially in the above-mentioned areas, as well as automobile spare parts, and wood products.