Cambodia and S. Korea begin second round of negotiations on FTA

Cambodia and South Korea began on Monday the second round of negotiations on a Free Trade Agreement (FTA) that was held via video conference. Ministry of Commerce (MOC) spokesman Seang Thay said that the talks would mainly address the scope of goods that can enjoy preferential access and the text of the agreement, which comprises six primary chapters. Once the FTA is signed, Cambodia will obtain greater market access and draw in more foreign investment, he said. The MOC secretary of state Sok Sopheak said that the negotiations team wants to wrap up talks with South Korea on a technical framework by the end of the year and reach a final agreement early next year. He added that the government is also looking beyond South Korea and the possibility of establishing future FTAs with India, Australia, the US, Canada, New Zealand, the UK and Japan. (Source: Phnom Penh Post)