Phnom Penh: Free Trade Agreement between Cambodia and Korea will start traffic in the near future before heading to the talks Officially, Cambodia has held consultative meetings to provide and receive information with the private sector. The private sector sees this bilateral free trade agreement as paving the way for Cambodia to expand its rice export potential. Its a success.
According to the Cambodian Rice Federation, "For the Cambodian rice sector, the Cambodia-Korea Free Trade Agreement will pave the way for Cambodia. Expand rice export potential as well as the reputation of Cambodian rice, especially focusing on specialty rice such as organic rice and rice Browning and so on. This is an input from the Cambodian Rice Federation. Mr. Sim Sok Kheng, Secretary of State of the Ministry of Commerce and Chairman of the Working Group on Free Trade Agreement Negotiations with Korea, said on social media Negotiations on a free trade agreement with Korea will begin soon, This is why negotiations or a free trade agreement with Korea provide many benefits to Cambodia.
According to the Cambodian Rice Federation, Cambodia exported 426,073 tonnes of rice in the first seven months of 2020, an increase of About 38.33% compared to the same period in 2019. If we compare the growth in the last five years (2015-2019), we see that our export growth in the last seven years The same month as 2020, there was instability with an average below 1%. According to the Cambodian Rice Federation, "The growth of rice exports in the first seven months of 2020 has increased significantly. Note that this is due to:
1- Demand for food in the context of the spread of Kovid-19 disease in importing countries, 2- Decrease Of the import duty rate of Cambodian rice to the EU market from 170 Euros to 150 Euros, 3- Quantity and validity of the quota Imports of Cambodian rice to Chinese market remain high, with market diversification to Hong Kong, Australia, Russia and New Zealand Zeland, etc., 4- Diversification of rice from plain milled rice to brown rice, organic rice, 5- Maintain market growth in Malaysia, Brunei and Gabon, all three of which share market share Cambodia accounts for almost 15% of total rice exports. ” By: Long Sareth