Cambodia, Korea to sign free trade agreement on October 26

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Cambodia and Korea will sign a free trade agreement on October 26. This is according to Chring Botum Rangsay, Ambassador Extraordinary and Plenipotentiary of the Kingdom of Cambodia to the Republic of Korea.

On October 14, 2021, Ms Rangsay and his colleagues met with JOHN Hanjoo Lee, Vice President of the Korean Chamber of Commerce and Investments (KCCI) and General Director of Bespin Global and Michael Cho. President of Bespin Global and colleagues to initiate communication, cooperation and mutual understanding.

She mentioned the economic potential, favorable conditions and investment opportunities in Cambodia, especially after Cambodia and Korea signed a free trade agreement on October 26.

She also confirmed the project that the Cambodian Embassy plans to hold a Korea-Cambodia Business Forum in late November or early December and requested the cooperation of the Vice President of the Korean Chamber of Commerce to participate in this work.

The embassy delegation also learned about Bespin Global, a global cloud sales and leasing company with eight branches around the world. The giant also expressed interest in investing in technology. Modern in Cambodia as well.

It should be noted that the Cambodia-ROK Free Trade Agreement (CKFTA) will be the second free trade agreement after the CCFTA between Cambodia and China. Cambodia is the 60th export destination of the Republic of Korea, with major commodities such as beverages, electronics, pharmaceuticals and trucks. Meanwhile, Cambodia exported goods to South Korea, mostly clothing and footwear products.

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