The two sides acknowledged the progress in the bilateral trade which rose to US$970 million in 2018 from $54 million in 1997.
They agreed to boost cooperation in the fields of agriculture, infrastructure construction, processing and finance.
The operation of over 200 Korean enterprises in Cambodia plays a crucial role in promoting the goal of common growth, they noted.
The two countries will step up the negotiations on the double taxation avoidance agreement while increasing support and encouraging Korean businesses to invest in Cambodia.
The two leaders agreed to push ahead with cooperation in agriculture with the launch of a agricultural product distribution centre, the first quarantine facility in Cambodia in February, which involves investment of the two countries’ businesses.
Regarding finance, the RoK will support Cambodia to build a national payment system in 2019 and infrastructure, making it easier for Korean financial companies to head to the market.
President Moon Jae-in pledged to expand support for Cambodia, the second biggest development partner of the RoK in the Association of Southeast Asian Nations after Vietnam.
For his part, Prime Minister Hun Sen expressed his support for the RoK’s New Southern Policy and peace roadmap on the Korean Peninsula.
The two leaders agreed to closely work together to host successfully the ASEAN-RoK special summit and the Mekong-RoK summit scheduled for the end of this year.-
