South Korea And Cambodia Hold The First South Korea Cambodia Free Trade Agreement (FTA) Consultation Meeting

The "Cambodian free trade agreement" (FTA) was held from July 30, 2020.

On the Korean side, Lu Jianji, FTA Policy Officer (equivalent to director level) of the Ministry of industry, commerce and resources of the Republic of Korea served as the negotiation representative, and led the representatives of the Ministry of industry, commerce and resources, Ministry of planning and finance, Ministry of agriculture, forestry, animal products and food, and the Ministry of marine and Fisheries of the Republic of Korea to meet with SIM sokjeng, Deputy Minister of Commerce of Cambodia, and representatives of the Ministry of Commerce, Ministry of economy and finance of the country.

After South Korea and Cambodia expressed their willingness to sign FTA in March 2019, the two governments followed the procedures of feasibility assessment and hearing, and announced the start of consultation on July 9, this year. The two governments will consult on commodities, origin, trade facilitation, economic cooperation and general principles, and discuss topics such as opening commodity markets.

Lu Jianji, a FTA policy officer, said that the global economy is affected by the new epidemic, which highlights the importance of cooperation with the New South countries. Cambodia, as a potential Southeast Asian country, hopes to promote trade and investment between the two countries through the free trade agreement with Cambodia, so as to become an opportunity for strengthening economic cooperation.