Busan (FN), Nov. 25 – The Kingdom of Cambodia and the Republic of Korea (ROK), on 25 November 2019, have signed the Joint Statement on the Launch of the Joint Study on a Possible Free Trade Agreement between Cambodia-Republic of Korea, represented by Minister of Commerce of Cambodia Pan Sorasak and Minister for Trade of Republic of Korea H.E. Yoo Myung-Hee.

According to the press release of Cambodia’s Commerce Ministry dated Monday, the trade volume between the two countries in 2018 had reached around USD 756 million, an increase by 15 percent compared to 2017.

“Cambodia's main exports to South Korea include t-shirts, men's clothing, electronics, shoes, luggage, aluminium, beverages, medical supplies (surgical jacks), tents and natural rubber. Cambodia's main imports from Korea include trucks, cloths, mineral water, quilts, electronics, bulldozers, plaques or leather nickels from processed sheep, dye cloths and beauty products.”

The press release said Cambodia-Korea Bilateral FTA will not only strengthen the relationship and promote bilateral trade between the two countries; but also create employment and investment opportunities and promote services export that will further contribute to the economic growth and bring more benefits to the people of the two nations.