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Bilateral trade between Cambodia and South Korea reached $377 million for the first five months of 2021.  This represents a 6.2 percent increase compared to the same period last year.

Data from the Korea International Trade Cambodia (KITA) showed that Cambodian exports to South Korea reached $139 million, a growth of 0.4 percent over the same period last year.

The Kingdom imported $237 million worth of goods from South Korea Jan-May, up 10 percent for the same period in 2020.

Cambodia’s primary exports to South Korea include garments, footwear, travel goods, beverages, rubber, medicines, agricultural products and components for electronic equipment. Imports from South Korea include vehicles, electronics, kitchen equipment and plastic products, among others.

The two countries have already completed negotiations for an FTA and expect it to be inked later this year, according to Pan Sorasak, Minister of Commerce.

Lim Heng, vice president of Cambodia Chamber of Commerce, said that the trade pact will contribute to increased Cambodian exports.

“Once the trade pact enters into effective, it will boost production domestically as well as exports and attract more investment to the country to process more export goods,” Heng said.

Bilateral trade volume between Cambodia and South Korea amounted to $884 million in 2020, down 17 per cent from $1.032 billion in 2019.

Source : https://www.khmertimeskh.com/50879943/cambodia-south-korea-trade-reaches-377-million-january-may/

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