Cambodia and Korea have vowed to further promote bilateral ties of friendship and cooperation for mutual benefit and expressed their willingness to extend their cooperation to trade and investment.
The commitment was made during a meeting here this afternoon between Samdech Akka Moha Sena Padei Techo Hun Sen, Prime Minister of the Kingdom of Cambodia and visiting Korean President H.E. Yoon Suk-yeol.
In the meeting, both leaders highly valued the existing good relations and cooperation between the two countries, and discussed regional issues of common interest, H.E. Eang Sophalleth, Personal Assistant to the Cambodian Premier told reporters upon the meeting.
H.E. Yoon Suk-yeol expressed his satisfaction with the bilateral cooperation on investment and trade, particularly the relations between the two governments, private sectors, and peoples.
The South Korean leader also laid stress on the 25th anniversary of the re-establishment of diplomatic relations between the Republic of Korea and the Kingdom of Cambodia in which Korea considers Cambodia’s sustainable development a priority.
As the Korea-Cambodia FTA will enter into force next month, the two countries foresee an increase in the bilateral trade and investment.
In the past 25 years, the bilateral trade volume has increased nearly 20-fold, having reached US$1 billion in 2019, according to figures from the Korean Embassy to Cambodia.
As of now, more than 340 Korean companies are actively conducting businesses in Cambodia’s leading industries including garments, finance, construction, and agriculture.
Korea is currently the second largest investor in Cambodia with a total investment capital of US$4.73 billion.
Source: Agency Kampuchea Press