[FTA HONG] Summary of the Korea-Cambodia FTA (FTA utilization rate, FTA utilization by industry, and summary of highlights)
The Korea-Cambodia FTA was concluded in the shortest period of time (7 months) and was the first FTA negotiation in which the entire negotiation process was conducted non-face-to-face. This is likely due to the fact that Korea and Cambodia already had ASEAN-Korea FTAs in place. In particular, the FTA with Cambodia, which has great growth potential as a hub in the Mekong region connecting Vietnam, Thailand, and Laos, is significant in solidifying market access within ASEAN. The Korea-Cambodia FTA went into effect on December 1, 2022, so there is no data on FTA utilization in 2022. However, as of the first quarter of 2023, the export utilization rate of the Korea-Cambodia FTA is 24.0% and the import utilization rate is 25.0%. In terms of FTA utilization by industry, machinery is the highest at 65.2% for exports and miscellaneous goods is the lowest at 0.0%. In imports, only 34.7% of household goods and 25.6% of textiles are utilized, and most indust...