Cambodia Seeks Market in South Korea

[AKP]

The Cambodian Ministry of Commerce is pushing its local exporters to seek for market in South Korea.

H.E. Cham Prasidh, Senior Minister and Minister of Commerce told Cambodian and South Korean businessmen in a seminar in Phnom Penh on Apr. 7 that South Korea is a potential market for Cambodian products.

In 2009, the volume of Cambodian and South Korean bilateral trade reached US$437 million, but in 2010 it decreased to US$376 million, while South Korea is one of the biggest foreign investors in Cambodia with some US$1,026 million in 2010, up from US$120 million in 2009.

Mr. Chang Ho-jin, South Korean Ambassador to Cambodia said since the two countries re-established their diplomatic relations in 1997, the bilateral trade has increased sevenfold.

Mr. Jang Gyu-Hwa, Vice Chairman of the Korea Importers Association said Cambodia is ranked the 89th exporting country to South Korea with the export volume of some US$43 million.