Cambodia and South Korea Conclude Free Trade Agreement Talks
South Korea and Cambodia announced in a joint statement that negotiations have concluded on a bilateral free trade agreement. Cambodian Commerce Minister Pan Sorasak and South Korean Trade Minister Yoo Myung-hee revealed the finished FTA talks at a joint Feb.…
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4 videoconference, The Korea Herald reported. The FTA is intended to boost both countries' exports and comes after six months of negotiations. When combined with the Regional Comprehensive Economic Partnership, Cambodia will lift tariffs on 93.8% of all South Korean products, while South Korea will lift duties on 95.6% of Cambodian goods, The Korea Herald said. “The FTA will pave the way for the two countries to overcome challenges from the COVID-19 pandemic, and seek sustainable economic growth,” Yoo said on the videoconference.