16-5-2024 (PHNOM PENH) The Governments of Cambodia and South Korea have solidified their bilateral relations with the signing of six significant documents on the morning of May 16. The agreements were formalised under the chairmanship of Cambodian Prime Minister Hun Manet and South Korean President Yoon Suk Yeol, marking a key moment in Prime Minister Hun Manet’s official visit to South Korea.
The six documents, aimed at bolstering cooperation between the two nations, include:
- Protocol on the Amendment of the Project Framework: This protocol amends the existing framework between the Governments of South Korea and Cambodia, outlining the financing of the Economic Development Cooperation Fund for the period of 2022-2026.
- Memorandum of Understanding on Investment Cooperation: This MoU, signed between the Council for the Development of Cambodia and South Korea’s Ministry of Commerce, Industry, and Energy, aims to enhance investment cooperation between the two countries.
- Memorandum of Understanding on Intellectual Property Cooperation: The Cambodian Ministry of Commerce and the Intellectual Property Unit of South Korea have agreed to strengthen cooperation in the field of intellectual property.
- Letter of Intent on Drug Control Cooperation: This document signifies a commitment to enhance cooperation on drug control between Cambodia’s General Department of Customs and Excise and South Korea’s Customs Administration.
- Memorandum of Understanding on Professional Skills and Talent Development: This agreement between the Royal Government of Cambodia and the Korea International Cooperation Agency focuses on developing professional skills and talent in Cambodia.
- Concessional Loan Agreement for Rural Road Improvement Project, Phase 4: This agreement, signed between the Royal Government of Cambodia and the Export-Import Bank of Korea, will provide concessional loans for the fourth phase of Cambodia’s Rural Road Improvement Project.
These agreements represent a comprehensive effort to strengthen the economic, educational, and infrastructural ties between Cambodia and South Korea, promising mutual benefits and enhanced collaboration in the years to come.
