Cambodia has planned to start negotiations on Free Trade Agreement (FTA) with some more countries, aiming to boost trade with those countries and to open more markets for its products.
Negotiations on FTA with South Korea would kick off early next year as the working groups of both countries have begun to finalise for substantial conclusion, said H.E. Sok Sopheak, Secretary of States at the Ministry of Commerce.
“Recently, we have announced the working groups to start negotiations and as planned, we will reach a substantial conclusion, the main parts of the negotiations, before the end of this year, and early next year, we can check and would sign the FTA,” he said at a press conference held at the Office of the Council of Ministers on July 28.
Besides South Korea, FTA talks with Japan and India have been also planned, H.E. Sok Sopheak added.
Cambodia and China are about to sign their bilateral FTA next month after six months of negotiations. The deal will open wider markets for both countries in trade exchange.
Cambodia’s FTA ambition is not only with China, but also Japan, South Korea, India, Australia, New Zealand, the U.S., Canada, and UK, he stressed.
However, studies on the FTAs with those countries are needed to be conducted first to check the possibility, stated H.E. Sok Sopheak.
Source: Agency Kampuchea Press