AKP Phnom Penh, December 18, 2020 --

The two-way trade between Cambodia and South Korea was valued at US$798 million in the first eleven months of this year, a year-on-year decrease of 15 percent.

Figures from Korea International Trade Association (KITA) showed that from January to November 2020, Cambodia exported US$291 million worth of products to South Korea, down 4.9 percent compared to the same period last year.

Meanwhile, Cambodia imported US$507 million worth of goods from South Korea, a 20 percent decrease.

Cambodia’s main products exported to South Korea are clothes, footwear, travel goods, beverages, components for electronic equipment, rubber, pharmaceuticals and agricultural products, while its main imports from the country are vehicles, electronics, kitchen appliances, beverages, pharmaceuticals and plastic products.

Last year, the bilateral trade between both countries rose by 6 percent to more than US$1 billion, of which the Kingdom exported US$336 million worth of goods.

The bilateral trade volume of the two countries is expected to increase high once the ongoing talks on free trade agreement (FTA) complete and the pact comes into effect.

Cambodia and South Korea have just wrapped up the fourth round of their FTA negotiations.

H.E. Pan Sorasak, Minister of Commerce, said in November that the result of the negotiations showed positive progress and only points related to customs remained which will be discussed in the next talks.

By Chea Vannak