Sunday, July 13, 2025
Khmer Daily Cambodia News
34 °c
Phnom Penh
  • LATEST
  • CAMBODIA
  • ASIA
    • JAPAN
    • SOUTH KOREA
    • TAIWAN
  • WORLD
    • CHINA
    • RUSSIA
  • BUSINESS CAMBODIA
  • TECHNOLOGY
No Result
View All Result
  • LATEST
  • CAMBODIA
  • ASIA
    • JAPAN
    • SOUTH KOREA
    • TAIWAN
  • WORLD
    • CHINA
    • RUSSIA
  • BUSINESS CAMBODIA
  • TECHNOLOGY
No Result
View All Result
The Khmer Daily
No Result
View All Result
Home ASIA Cambodia

Free Trade Agreement between Cambodia and Korea provides impetus for trade of the two nations

January 20, 2022
in Business, Cambodia, National
0
Free Trade Agreement between Cambodia and Korea provides impetus for trade of the two nations
0
SHARES
7
VIEWS
Share on FacebookShare on Twitter

The bilateral trade between Cambodia and Korea will further enhance with the two nations to start implementing the newly-endorsed bilateral free trade agreement this year.

Figures from the Korean International Trade Association showed that Cambodia exported $341 million worth of goods to South Korea last year, a year-on-year increase of 7.4 percent.

The Kingdom also imported $623 million worth of goods from South Korea, a 9.9 percent year-on-year increase.

The bilateral trade between the two nations topped at $965 million, a 9 percent increase compared to the year before.

Cambodia mainly exported footwear and other apparel, travel goods, beverages, electrical and electronic components, rubber, pharmaceuticals, and agricultural products to the East Asia nation.

The Kingdom imported vehicles, electronics, kitchen appliances, beverages, pharmaceuticals, and finished plastic products from South Korea.

The two countries signed in October the bilateral free trade agreement and announced that they will put into effect the deal within this year.

Pen Sovicheat, spokesman at the Ministry of Commerce, said that the agreement is expected to enter into force early this year and is expected to attract more foreign investment, adding that  goods exported to the South Korean market must adhere to high technical quality, both industrial and agricultural products.

“The Cambodia-South Korea Free Trade Agreement will provide an opportunity for Cambodia to export duty-free goods on light industrial, agricultural and industrial products, spare parts and accessories,” Sovicheat said.

The goods that could benefit from the duty-free import to the South Korean market immediately are light industrial goods, including clothing, footwear, travel bags and agricultural products that are currently being marketed in China. So, these two goods are important for Cambodia, he said.

Lim Heng, vice president of the Cambodia Chamber of Commerce, said previously the bilateral FTA between Cambodia and Korea will not only open up more markets to Cambodian products but also attract investment for producing and exporting.

Bilateral trade volume between the two countries last year amounted to $884 million, decreasing 16 percent from the year before.

This article was first published in Khmer Times. All contents and images are copyright to their respective owners and sources.

Tags: Cambodiafree-trade agreementKorea
Previous Post

Cambodia to resume treason trial of opposition leader Kem Sokha

Next Post

Cambodia to further strengthen agricultural ties with China

Related Posts

Neak Poan Temple is a destination for tourists to visit and take beautiful pictures

Neak Poan Temple is a destination for tourists to visit and take beautiful pictures

by Khmer Times
July 3, 2023
0
107

Neak Poan Temple is one of the most attractive tourist destinations among the ancient temples, which is located along the...

Cambodian pepper gains direct export rights to China

Cambodian pepper gains direct export rights to China

by Khmer Times
July 3, 2023
0
81

The Chinese Embassy in Cambodia announced today that Cambodian pepper has completed all export procedures to China, which means can...

Wrapped in blanket, dumped in pond: Top South Korean livestreamer found dead in Cambodia

Wrapped in blanket, dumped in pond: Top South Korean livestreamer found dead in Cambodia

by AsiaOne
June 14, 2023
0
109

One of South Korea's top livestreamers was recently found dead in Cambodia. Byeon Ah-young's body was discovered — wrapped in a...

Most Popular

New dairy farm in Cambodia, Kirisu, goes into fresh milk production operated by Khmer Fresh Milk

New dairy farm in Cambodia, Kirisu, goes into fresh milk production operated by Khmer Fresh Milk

July 17, 2020
507
Neak Poan Temple is a destination for tourists to visit and take beautiful pictures

Neak Poan Temple is a destination for tourists to visit and take beautiful pictures

July 3, 2023
107

$140 million brewery factory in Cambodia, Vattanac Brewery, will employ 1,500

June 27, 2020
118
Is this Japan’s weirdest mascot? Meet Hokkaido’s Zushihocky, part rice, part clam

Is this Japan’s weirdest mascot? Meet Hokkaido’s Zushihocky, part rice, part clam

May 27, 2020
38
Cambodia rice production losses caused by droughts about $100 million

Cambodia rice production losses caused by droughts about $100 million

October 1, 2021
17
Phnom Penh-Sihanoukville Expressway (PP-SHV) users to get 20% discount until October 2023

Phnom Penh-Sihanoukville Expressway (PP-SHV) users to get 20% discount until October 2023

November 2, 2022
20

© 2020 By Khmer Daily News

No Result
View All Result
  • Home
  • Latest
  • Cambodia
  • ASIA
  • World
  • Business
  • Tech

© 2019 The Khmer Daily.

error: Content is protected !!