Cambodia-South Korea Free Trade Agreement Signed

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Cambodia-South Korea Free Trade Agreement Signed

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Cambodia hopes to attract more investment via Korea-Cambodia FTA
By Korea Times -
November 2, 2021

Korea and Cambodia inked a free trade agreement (FTA), Oct. 26, paving the way for strengthened ties between the two countries as well as helping the economic recovery from the pandemic.

The signing ceremony was held via videoconferencing amid the COVID-19 situation. Cambodian Minister of Commerce Pan Sorasak expressed regrets over being unable to celebrate the special occasion in person.

Under the FTA, Cambodia will remove tariffs on 93.8 percent of products, including Korea's major exports to Cambodia ― cars, electronics and computers.

Korea will lift tariffs on 95.6 percent of all imports from Cambodia. Cambodia's main exports to Korea are agricultural and textile products.

In full: https://www.koreatimes.co.kr/www/nation ... 17837.html
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Re: Cambodia-South Korea Free Trade Agreement Signed

Post by CEOCambodiaNews »

FTA to boost South Korea-Cambodia textiles-clothing trade
03 Nov '21

The free trade agreement (FTA) between South Korea and Cambodia, signed last week, is expected to boost the bilateral trade, including textile and clothing trade, between the two Asian countries. Finished textile-based products such as garments, footwear and travel bags are covered under the FTA which removes tariffs on over 90 per cent of goods.

Under the FTA, together with the Regional Comprehensive Economic Partnership (RCEP), Cambodia will do away with tariffs on approximately 93.80 per cent of Korean goods, while Korea will withdraw tariffs on 95.6 per cent of its imports from Cambodia.

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Read more...

https://www.fibre2fashion.com/news/text ... etails.htm
Fibre2Fashion News Desk (RKS)
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Re: Cambodia-South Korea Free Trade Agreement Signed

Post by Bitte_Kein_Lexus »

I find this very suspect and doubt its veracity. So I'll be able to buy a Kia or Hyundai at a 100% cheaper than that of all their competitors? I somehow doubt it. It would completely reshape car sales and a very bold move.
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Re: Cambodia-South Korea Free Trade Agreement Signed

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Cambodia-Korea FTA to Come into Force Next Month 
AKP Phnom Penh, November 24, 2022 --
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The Ministry of Commerce and the Embassy of the Republic of Korea in Phnom Penh on Thursday co-organised a workshop on dissemination of the benefits and export procedures to local exporters under the Cambodia-Korea Free Trade Agreement (CKFTA).

The workshop was opened under the presidency of H.E. Pan Sorasak, Minister of Commerce, and H.E. Hyuk-Sang Lee, First Secretary of the Korean Embassy in Cambodia, with some 200 representatives from Cambodia Chamber of Commerce, Textile, Apparel, Footwear & Travel Goods Association in Cambodia, and Korea Trade-Investment Promotion Agency in attendance.

The CKFTA is scheduled to come into force next month, H.E Pan Sorasak said in the workshop.

“The CKFTA, which will enter into force on Dec. 1, 2022, will increase trade volume between the two countries and create more new export opportunities,” he said. 

The workshop is aimed to disseminate the export procedures among the private sector to promote exports and maximise the benefits of implementing the CKFTA.

According to a report by the Ministry of Commerce, in the first nine months of 2022, the trade volume between Cambodia and South Korea was recorded at more than US$600 million, an increase of 3 percent compared to the same period in 2021.
By Keo Sophal
AKP
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Re: Cambodia-South Korea Free Trade Agreement Signed

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Cambodia Eying for More Bilateral FTAs
AKP Phnom Penh, February 03, 2023 --

The Royal Government of Cambodia has been pushing for the establishment of more bilateral free trade agreements (FTAs) with main trade partners in order to access wider markets for the Cambodia-made products.

Arab Emirates, India, Japan, Eurasian Economic Union (EAEU), Canada, and American Latin countries are in the plan for bilateral FTA negotiations, said H.E. Aun Pornmoniroth, Deputy Prime Minister and Minister of Economy and Finance.

Currently, Cambodia has two bilateral FTAs with China and Korea, which came into force in January and December 2022, respectively.
- AKP
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