CAMBODIA: Free Trade Agreement with South Korea Formally Signed

Cambodia and South Korea have now officially signed the Free Trade Agreement (FTA) they agreed some eight months ago. This will see South Korea eliminate tariffs on 95.6% of all imports from Cambodia, while Cambodia will, in turn, abolish levies on 93.8% of all South Korea-sourced items. 

At present, South Korea primarily exports cars, textiles, machinery and marine and agricultural products to Cambodia, while Cambodia largely exports agricultural products and textile items to its 3,500 km distant trading partner. According to the Korea International Trade Association (Kita), in the first six months of 2021, bilateral trade between the two stood at US$452 million, a 6.7% year-on-year rise.