Cambodia expects to draw more investment from RoK

Hanoi (VNA) - Cambodian Prime Minister Hun Sen said on February 4 that Cambodia hopes to attract more investment from the Republic of Korea (RoK) by taking advantage of a double taxation avoidance agreement between the two countries.

During a meeting with Korean President Moon Jae-in at Cheong Wa Dae in Seoul, Hun Sen stressed that the bilateral relations are continuously developing as reflected by the signing of the double taxation avoidance deal and an agreement on mutual legal assistance in criminal matters last November.

He asked Moon to encourage more Korean firms to do business in the Southeast Asian country.

The PM also noted that Cambodia began exporting mango products to the RoK at the start of this year.

Moon agreed that the bilateral ties are continuing to strengthen on the basis of the firmer systemic foundation.

The two nations also launched a joint study on the possibility of a bilateral free trade agreement last November, he said.

Two-way trade rose to 1.3 billion USD in 2019 from 870 million USD two years earlier, according to the Korea International Trade Association.

Moon said the RoK will cooperate with Cambodia on its plan to host an Asia-Europe Meeting (ASEM) summit later this year.

He also requested Cambodia's support for the RoK's hosting of the second P4G summit in June./.