The 2nd Korea-Cambodia Free Trade Agreement (FTA) Negotiations Held

The first official Korea-Cambodia negotiation video conference held on the 30th of last month. (Photo provided by the Ministry of Trade, Industry and Energy) [Image source=Yonhap News]

[Asia Economy Reporter Moon Chaeseok] The 2nd official negotiation of the Korea-Cambodia Free Trade Agreement (FTA) will be held online from the 31st of this month to the 3rd of next month.

On the Korean side, the government delegation, led by No Geon-gi, FTA Policy Officer of the Ministry of Trade, Industry and Energy, will participate in the negotiations along with representatives from the Ministry of Trade, Industry and Energy, Ministry of Economy and Finance, Ministry of Agriculture, Food and Rural Affairs, Ministry of Oceans and Fisheries, and Korea Forest Service.

On the Cambodian side, the government delegation, led by Deputy Minister Sim Sokheng of the Ministry of Commerce, will attend along with representatives from the Ministry of Commerce and Ministry of Economy and Finance.

Following the declaration to commence Korea-Cambodia FTA negotiations on the 9th of last month, the first round of negotiations was held on the 30th and 31st of the same month to discuss mutually interested areas.

In the 2nd round of negotiations, discussions will proceed on five subcommittees: goods, rules of origin, customs and trade facilitation, economic cooperation, and general provisions.

Although the Korea-ASEAN FTA is already in effect between Korea and Cambodia, the government believes that concluding a bilateral FTA will further strengthen the relationship between the two countries by expanding trade and enhancing cooperation.

The Ministry of Trade, Industry and Energy stated, "In particular, through negotiations on market opening for goods, we plan to expand external accessibility for our major export items and improve rules related to origin and customs to resolve difficulties faced by our companies."

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