Cambodia, RoK target 1 billion USD in trade in 2020

Cambodia and the Republic of Korea (RoK) aim to boost two-way trade to 1 billion USD in 2020.

Tuesday, December 24, 2019 18:58

Cambodia, RoK target 1 billion USD in trade in 2020 ảnh 1

Leaders from ASEAN and the RoK in a group photo at the 2019 ASEAN-Republic of Korea Commemorative Summit in Busan (Photo: VNA)

Phnom Penh (VNA) – Cambodia and theRepublic of Korea (RoK) aim to boost two-way trade to 1 billion USD in 2020.

Cambodian Minister of Foreign Affairs PrakSokhonn and newly-appointed Korean Ambassador to Cambodia Park Heung-kyoeng onDecember 23 discussed ways to accelerate the implementation of agreements toattract more investment signed during a summit in Busan last month.

The two sides agreed to increase trade and investment,especially in tourism. They believed that these agreements will encourageKorean businesses to invest in Cambodia.

On the sidelines of the ASEAN-RoK CommemorativeSummit in Busan in November 2019, the Cambodian Foreign Minister and his Koreancounterpart Kang Kyung-wha signed five agreements, including a joint study onthe possibility of free trade agreement.

They also inked two memoranda of understandingon cooperation in agriculture, technology, telecommunication, and information.

In the first nine months of 2019, two-way tradereached 700 million USD.

Over the past 23 years, the RoK has invested4.47 billion USD into Cambodia./.

VNA

#two-way trade #Cambodian Minister of Foreign Affairs Prak Sokhonn #newly-appointed Korean Ambassador to Cambodia Park Heung-kyoeng #ASEAN-RoK Commemorative Summit #agriculture #tourism #technology #Vietnamplus #Vietnam News Agency

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