FTA plays important role in boosting Cambodia-Korea trade

PHNOM PENH: Cambodia and the Republic of Korea () held the 1st Meeting of the Cambodia-Korea Free Trade Agreement Joint Committee (CKFTA JC), noting positive progress of trade cooperation between the two countries.

The meeting, co-chaired by H.E Mrs. , Minister of Commerce of the Kingdom of Cambodia and H.E. Inkyo Cheong, Minister for Trade of RoK, was held in Seoul on May 13.

In the meeting, both sides expressed positive progress of trade cooperation between the two nations, as well as the remarkable results of the CKFTA implementation.

H.E, Mrs. Cham Nimul expressed her optimism that the CKFTA will become an important mechanism to promote more trade and investment cooperation.

The 1st CKFTA JC was organised to discuss and follow up the progress of trade relations between Cambodia and the RoK after the entry into force of the Free Trade Agreement between the Royal Government of the Kingdom of Cambodia and the RoK Government on Dec. 1, 2022.

Figures from the General Department of Customs and Excise of Cambodia show that the bilateral trade between Cambodia and RoK rose by 7.4 percent to US$256 million in the first four months of this year.

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