Cambodia, South Korea agree to leverage RCEP, other FTAs
Cambodia and South Korea on Thursday agreed to leverage the Regional Comprehensive Economic Partnership (RCEP) agreement and other free trade agreements for the benefit of all, according to a joint statement.
The statement was released after a bilateral meeting between Cambodian Prime Minister Hun Manet and South Korean President Yoon Suk-yeol during Hun Manet's official visit to Seoul.
"Both sides agreed to leverage bilateral and multilateral economic cooperation mechanisms, including the Cambodia-Korea Free Trade Agreement (CKFTA), the ASEAN-Korea Free Trade Agreement (AKFTA), and the Regional Comprehensive Economic Partnership (RCEP)," the statement said.
"Both sides also agreed to enhance cooperation in digital trade and intellectual property for innovation-driven sustainable development," it added.
According to the statement, both sides agreed to elevate bilateral relations to a strategic partnership.
Entered into force in 2022, the RCEP comprises 15 Asia-Pacific countries including 10 ASEAN member states, Brunei -- Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam -- and their five trading partners, namely China, Japan, South Korea, Australia and New Zealand.
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