Cambodia and the Republic of Korea (RoK) launched the second round of negotiations for a bilateral free trade agreement (FTA) on August 31 as the RoK works to expand its export portfolio to cushion the economic fallout from the COVID-19 pandemic.
Hanoi (VNA) – Cambodia and the Republicof Korea (RoK) launched the secondround of negotiations for a bilateral free trade agreement (FTA) on August 31 asthe RoK works to expand its export portfolioto cushion the economic fallout from the COVID-19 pandemic.
According to the Ministry of Trade, Industry and Energy of the RoK, the four-dayvirtual meeting aims to set more details on the envisioned FTA.
The two sides will also exchange opinionson setting the scope of products, as well as other measures to enhance theirbilateral economic ties.
The two countries held the first round of negotiations in late July. Thesession came more than a year after Cambodian Prime Minister Hun Sen proposed abilateral free trade pact during his meeting with RoK President Moon Jae-in inPhnom Penh in March 2019.
According to the Korean International Trade Association (KITA), the trade volume between the two countries reached anall-time high of 1 billion USD in 2019, up 6 percent against theprevious year, of which 697 million USD was from theRoK’s shipments to the Southeast Asian nation.
When the pact is signed, Cambodia will be added to the RoK's list of FTApartners in Southeast Asia, which currently covers Vietnam and Singapore./.
Cambodian Prime Minister Hun Sen on February 4 met with host President of the Republic of Korea (RoK) Moon Jae-in in Seoul to discuss plans for strengthening the bilateral relations.
The Republic of Korea said on June 11 that it has made further progress in fleshing out details for the planned free trade agreement (FTA) with Cambodia, as Seoul seeks to broaden economic ties with Southeast Asian nations and diversify its export portfolio.
Cambodia and the Republic of Korea (RoK) agreed on July 9 to launch official negotiations for a bilateral free trade agreement (FTA), paving the way for the RoK, Asia's No. 4 economy, to make further inroads into the Southeast Asian market and boost exports.
Cambodia and the Republic of Korea (RoK) on July 30 launched the first round of free trade negotiations, according to the RoK’s Ministry of Trade, Industry and Energy.
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Illustrative image (Photo: Yonhap News) 
