South Korea-Cambodia FTA: The door to import tropical fruits widens

Published 2021년 2월 4일

Tridge summary

The Korea-Cambodia Free Trade Agreement (FTA) has been concluded, with negotiations commencing in July 2020 and concluding in the fastest time among all FTAs. This agreement will lead to the abolition of tariffs for a significant portion of items, potentially increasing the importation of tropical fruits, which could cause damage to local fruit farms in Korea. Eleven Korean private companies, primarily involved in agricultural production and distribution, are expanding their operations in Cambodia, with Hyundai Corporation Holdings expecting to increase mango imports.

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Original content

[Reporter Lee Byeong-seong, Korea Farmers & Fisheries Newspaper] Four official negotiations in 7 months Fastest quick decision among all the FTAs ▶ Increased concern for damage to fruit farmers 11 Private companies that have entered the region Mango import momentum prospects The Korea-Cambodia Free Trade Agreement (FTA) was concluded on the 3rd. As FTAs with Asian countries expand according to the government's new southern policy, imports of tropical fruits will increase further, and the damage to fruit farms in Korea will be deepened. In particular, the controversy is expected to heat up as it is predicted that the imports of tropical fruits from certain large companies will increase further through this Cambodia FTA. On the 3rd, Cambodian Minister of Commerce Myung-hee Myung-hee and Minister of Commerce of Cambodia, PAN Sorasak, announced the conclusion of the Korea-Cambodia FTA negotiations and signed a joint declaration. The bilateral FTA was promoted on the occasion of the ...

Source: Agrinet