S Korea, Cambodia finalise free trade agreement

South Korea recently finalised a free trade agreement (FTA) with Cambodia to boost ailing exports amid the COVID-19 pandemic. Trade minister Yoo Myung-hee and her Cambodian counterpart Pan Sorasak held a virtual meeting and declared that Seoul and Phnom Penh have completed FTA negotiations, according to South Korea ministry of trade, industry and energy.

The two countries plan to hold an official signing ceremony in the near future. The pact also needs parliamentary approval.

Both countries launched feasibility studies on the FTA after holding a summit in March 2019. The first round of negotiations began in July last year.

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