Bilateral trade between Cambodia and South Korea surged 9.3 percent

The bilateral trade between Cambodia and South Korea surged 9.3 percent to $791 million during the first ten months of this year, data from the Korea International Trade Association stated. From January to October, Cambodia exported $283 million worth of goods to South Korea, a year-on-year increase of 6 percent. Meanwhile, Cambodia imported $508 million worth of goods from South Korea, which rose by 11.3 percent, read the report. Cambodia mainly exported footwear and other apparel, travel products, beverages, electrical and electronic components, rubber, pharmaceuticals and agricultural products to South Korea. The Kingdom imported vehicles, electronics, kitchen appliances, beverages, pharmaceuticals and finished plastics and products. The two countries wrapped up negotiation on establishment of the bilateral free trade agreement in February. The two countries signed the draft bilateral free trade agreement (FTA) late October. Cambodia is expected to draw in new investment and businessmen from the East Asia country and boost its exports and to see product exports to South Korea increase, as tariff barriers are removed. This article was first published in Khmer Times. All contents and images are copyright to their respective owners and sources. Khmer Daily