Illustrative photo (Photo: Yonhap)

Hanoi (VNA) – Cambodia and the Republic of Korea (RoK) have signed a double taxation avoidance pact to boost bilateral economic cooperation.

The pact was signed last week in Busan, the RoK, at bilateral talks between Korean Foreign Minister Kang Kyung-wha and her Cambodian counterpart, Prak Sokhonn, Yonhap News Agency quoted the Korean Ministry of Economy and Finance’s statement as saying.

The agreement is set to take effect after parliamentary ratifications in both countries.

The RoK’s exports to Cambodia reached 660 million USD in 2018, more than doubling the figure of 294 million USD in 2008. The RoK’s imports also surged to 314 million USD from 18 million USD in the reviewed period./.

VNA