A bill authorizing the ratification of the Cambodia-Korea Free Trade Agreement has been promulgated into law, moving the two Asian nations into the final stretch for the enactment of the deal. The agreement is expected to unlock billions in bilateral trade and investment.
The bill went through the National Assembly on December 29, the 9th Committee of the Senate on December 30, and the Senate on January 6. All votes were unanimous. The document was enacted into law by a Royal Code signed by the king on January 29.
Industry experts say the trade agreement is crucial for the kingdom to ship a wide range of goods to South Korea, especially agricultural products, and stimulate the Cambodian economy. Although fresh mangoes of the Keo Romiet variety grown in the Kingdom have been a moderate hit in South Korea, exports of the fruit remain limited given the number-four Asian economy’s stringent conditions for agricultural imports.
Source: phnompenhpost.com
