Cambodia-South Korea Trade Exceeds $300M

Cambodia-South Korea Trade Exceeds $300M

Bilateral trade volume between Cambodia and South Korea topped more than $302 million from January to May this year, an increase of 2.66 percent year-on-year according to the Ministry of Commerce.

The ministry said Cambodia exported more than $75 million to South Korea while Cambodia imported more than $226 million worth of goods.

Main exports to South Korea included clothing, electronics, beverages, travel bags, rubber, medicine and cardboard.

Imports from South Korea included textiles, trucks, beverages, electronics, machinery, home décor products, medicines, soaps and plastic products.

Commerce ministry spokesman Seang Thai said the signing of the free trade agreement between the two nations would be delayed because of Covid-19.

“On the Cambodian side, we have been preparing internal procedures for requesting permission from the head of the Royal Government for the Minister of Commerce to sign. Both sides will find a suitable time to sign the agreement,” Thai told local media.

Negotiations on the free trade agreement have concluded as the two sides wait for a reasonable time to finalise the document.