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Cambodia-Korea FTA will come into force on December 1

The Embassy of the Republic of Korea has confirmed that the Cambodia-Korea Free Trade Agreement (CKFTA) will enter into force on December 1, 2022. The notification comes after the embassy issued a notification to the Ministry of Foreign Affairs and International Cooperation (MFAIC) of the Kingdom of Cambodia on October 2, 2022.

The embassy pointed out that the CKFTA stipulates in Article 10.10 that the agreement shall enter into force 60 days after the official note dated October 2, 2022, was sent to the Cambodian government following the government of the Republic of Korea had completed its domestic procedures for the entry into force of the agreement.

Nguon Mengtech, Director General of Cambodia Chamber of Commerce (CBC), has stated that the private firms applauded the CKFTA as it would be another gateway for them to expand exporting their goods in addition to the current markets, but would raise complaints during the actual implementation of the new official bilateral trade deal.

Source: khmertimeskh.com

Photo source: Dreamstime.com


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