PHNOM PENH, Feb 4 (NNN-AKP) – Cambodia and South Korea said, in a joint statement, that, they had concluded their negotiations on the bilateral Free Trade Agreement (FTA).
Cambodia’s Commerce Minister, Pan Sorasak, and South Korea’s Trade Minister, Yoo Myung-hee, jointly announced the conclusion via video-conference.
“The bilateral FTA aims to further strengthen economic partnership, and further liberalise bilateral trade between the two economies, by creating more economic and social benefits for the peoples and businesses of both countries,” the statement said.
“Furthermore, both countries believe that, this important bilateral agreement can facilitate a swift economic recovery for the two countries, during and after the COVID-19 pandemic,” it added.
According to the statement, the bilateral FTA covers trade in goods, including standards, technical regulations and conformity assessment procedures, sanitary and phyto-sanitary measures, along with trade remedies, rules of origin, customs procedures and trade facilitation, and dispute settlement, among others.– NNN-AKP
