Cambodia and the Republic of Korea (RoK) agreed on July 9 to launch official negotiations for a bilateral free trade agreement (FTA), paving the way for the RoK, Asia’s No. 4 economy, to make further inroads into the Southeast Asian market and boost exports.
According to Yonhap News Agency, the announcement came more than a year after Cambodian Prime Minister Hun Sen proposed making preparations for a free trade deal during his summit with RoK President Moon Jae-in in Phnom Penh in March 2019.
The two countries have carried out a joint feasibility study over the first five months of this year.
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