South Korea, Cambodia to Begin FTA Negotiations Next Month

Cambodia and South Korea plan to begin negotiating a free trade deal next month, the Hong Kong Trade Development Council said June 23. South Korea is hoping to diversify its export destinations away from its two largest export markets: China and the U.S., which are embroiled in a trade war, the report said, adding that the novel coronavirus outbreak has been an added incentive to go outside its usual supply chains. Cambodia is hoping to expand on its trade with South Korea, which included exports of nearly $335 million in 2019. The two sides agreed to begin negotiations after concluding a trade feasibility study started last year (see 1912120018).