South Korea’s ministry of trade, industry and energy recently said it has made further progress on the planned free trade agreement (FTA) with Cambodia. The third round of negotiations on the Cambodia-China FTA, expected to be finalised by 2020 end, recently approved in principle market access of goods and services, the Cambodian commerce ministry said.
South Korea and Cambodia completed a joint feasibility study on the FTA last month and agreed to start domestic procedures to pave the way for official talks, the South Korean ministry was quoted as saying by media reports in the country.
The Cambodian commerce ministry has set up eight different groups to be in charge of the trade negotiations with each potential partner. Even though the trade deal is yet to be been signed, the ministry has already enabled the export of some goods to the South Korean market through the World Trade Organisation (WTO).