Ftas

Most notably, the global pandemic has greatly influenced the country’s economic and trade situation since the beginning of the year. According to figures released by the General Statistics Office, by late June 2020 the country's export turnover had suffered a fall of 1.1% on year to US$121.21 billion. … [Read more...] about Businesses urged to capitalize on CPTPP and other FTAs

Hanoi (VNA) – The Republic of Korea said on June 11 that it has made further progress in fleshing out details for the planned free trade agreement (FTA) with Cambodia, as Seoul seeks to broaden economic ties with Southeast Asian nations and diversify its export portfolio. The RoK plans to hold a public hearing on the envisioned FTA on June 12 by inviting related experts, which is mandatory under the local law before seeking a commerce treaty, according to the Ministry of Trade, Industry and Energy. In November, the two countries launched a joint feasibility study on their potential FTA in line with the RoK’s summit with ASEAN. They completed the study last month and agreed to start domestic procedures to pave the way for official talks. The RoK's exports to Cambodia reached 696 million USD last year, up 5.5 percent from a year earlier. Its imports from the Southeast Asian country came to 335 million USD, up 6.8 percent year-on-year. The country mainly shipped textile … [Read more...] about Cambodia, RoK move closer to signing FTA

With a total of 16 FTAs under implementation and negotiations, Vietnam has become the focal point of the vast free trade area network that accounts for 59% of the world’s population and 68% of global trade, helping increase the country’s interests with most of the leading partners regionally and globally. … [Read more...] about Vietnam encouraged to make the most of FTAs

Phnom Penh (VNA) - Cambodia and China have wrapped up trade talks following a video conference between Cambodian Commerce Minister Pan Sorasak and his Chinese counterpart Zhong Shan on July 20, the Cambodian Commerce Ministry said in a press release. Rasmei Kampuchea quoted the press release as saying that both sides spoke highly of the bilateral free trade agreement (FTA), which mirrors the long-standing and comprehensive partnership between the two countries. The successful conclusion of negotiations over the FTA within a short timeframe reflects the commitments of the two countries’ leaders to building closer ties, the ministry said. The FTA will provide various socio-economic benefits to the two peoples through trade liberalisation and the facilitation of investment and cooperation in a number of fields. Both countries are completing all the necessary internal procedures for the FTA to be signed this year. The two countries began to discuss the feasibility of a bilateral … [Read more...] about Cambodia, China conclude FTA talks: Ministry

Hanoi (VNA) – Cambodia and the Republic of Korea (RoK) on July 30 launched the first round of free trade negotiations, according to the RoK’s Ministry of Trade, Industry and Energy. During the two-day virtual negotiations, the two sides will discuss details on the envisioned FTA, including expanding the bilateral economic cooperation and opening up the commodity market. The talks come more than a year after Cambodian Prime Minister Hun Sen proposed making preparations for the trade deal during his summit with RoK President Moon Jae-in in Phnom Penh in March last year. The two countries have carried out a joint feasibility study over the first five months of this year. RoK Trade Minister Yoo Myung-hee said in a statement on July 9 that amid the spread of COVID-19, it has become more important for his country to expand cooperation with Southeast Asian countries. She noted the RoK is pleased to launch FTA negotiations with Cambodia, which can potentially rise as the new … [Read more...] about Cambodia, RoK launch first round of FTA negotiations