South Korea and Cambodia agreed Thursday to launch official negotiations for a bilateral free trade agreement (FTA), paving the way for Asia’s No. 4 economy to penetrate deeper into the Southeast Asian market and boost its virus-hit exports.
The announcement came more than a year after Cambodian Prime Minister Hun Sen proposed to make preparations for a free trade deal during his summit with South Korean 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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