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    FTA, Investment Law to Promote Trade between Cambodia and South Korea: Envoy

    South Korean Ambassador to Cambodia Park Hung-kyung was signed between the two countries, which proved to be an important factor in strengthening bilateral trade and facilitating a more direct investment flow from their own country to the latter. I am optimistic about the new investment law and free trade agreement (FTA). .. The envoy recently addressed the 2021 Cambodia-Korea Forum.

    The event was held by the Cambodia Development Council in collaboration with the Korean Embassy in Phnom Penh and the Korea Trade and Investment Promotion Agency to disseminate information on the new law to about 100 Korean investors.

    Bilateral trade in 2019 was worth $ 1.032 billion, but due to a pandemic, it fell to $ 884.88 million in 2020, according to statistics from the Korea International Trade Association (KITA). ..

    South Korean Ambassador to Cambodia Park Hung-kyung has been signed between the two countries, which proved to be an important factor in strengthening bilateral trade and facilitating a more direct investment flow from their own country to the latter. We are optimistic about new investment laws and free trade agreements. The envoy recently addressed the 2021 Cambodia-Korea Forum.

    The Cambodian media, citing KITA data, will export more than $ 317 million in products in 2020, down 5.4% year-on-year, and import more than $ 567 million in 2019. It was reported that it plummeted by 18.6% in comparison.

    However, on October 26, the Cambodia-South Korea Free Trade Agreement (CKFTA) was formally signed, paving the way for both countries to increase their bilateral trade and investment flows. CKFTA will take effect 60 days after both parties notify each other that their internal procedures have been completed.

    The ambassador said South Korea is Cambodia’s second-largest investor, injecting a total of nearly $ 7 billion into Cambodia since 1997.

    In addition to FTAs ​​and investment legislation, double taxation agreements and other measures to combat tax evasion will also contribute to the growth of bilateral trade and investment, he added.

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    FTA, Investment Law to Promote Trade between Cambodia and South Korea: Envoy

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    The post FTA, Investment Law to Promote Trade between Cambodia and South Korea: Envoy appeared first on Eminetra.

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