Since the Free Trade Agreement (FTA) has been a major boost to investment flow and economic growth for Cambodia, the government is trying to establish more bilateral free trade agreements with main trade partners. Recently, Prime Minister Hun Sen has announced that in December 2022, the free trade agreement between Cambodia and South Korea will come into force, becoming Cambodia's second bilateral FTA after China. The Cambodian- South Korean FTA will contribute to strengthen long term economic partnership, especially market access which will be beneficial for all. According to Korea International Trade Association (KITA), Cambodian-South Korean bilateral trade reached $ 818 million in the first nine months of 2022, up 13.8 percent compared to last year. Cambodia's main export products to South Korea are footwear, apparel, travel products, beverages, electrical and electronic components, rubber, pharmaceuticals and agricultural products while import products are vehicles, electronics, kitchen appliances, beverages, pharmaceuticals and finished plastics products.

Reference: Chea,V .(2022, November 2). Cambodia set for more bilateral FTAs. Khmer Times. Retrieved from: https://www.khmertimeskh.com/501178750/cambodia-set-for-more-bilateral-ftas/