The cabinet ministers has agreed to submit the Cambodia-Korea Free Trade Agreement (CKFTA) to the legislative body for approval.

The agreement was made in the weekly cabinet meeting held here yesterday under the chairmanship of Prime Minister Samdech Akka Moha Sena Padei Techo Hun Sen.

CKFTA will be an important driving force to promote trade and investment flow between Cambodia and South Korea with mutual benefit, especially to accelerate the economic recovery of both countries after serious impacts by the COVID-19 pandemic. The agreement will also contribute to enhancing long-term, strong partnership, strengthening economic partnership and expanding bilateral trade liberalisation between the two nations.

This agreement are expected to came into force in early 2022, as planned, while the two sides agreed to complete their respective internal procedures to ratify the agreement as soon as possible.

CKFTA was signed on Oct. 26, 2021 to pave the way for the two countries to enhance bilateral trade and investment.

Source: Agency Kampuchea Press

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