The National Assembly has ratified free trade agreements with Israel and Cambodia, the trade ministry announced.

Free trade talks with Israel were launched in 2016 and concluded in 2019, with an FTA formally signed in May of last year. Negotiations with Cambodia were held from July 2020 to February of last year and an agreement was inked in October. 

Bills seeking parliamentary approval for both deals were submitted early this year.

With the completion of all domestic procedures related to the FTAs, Seoul will notify Israel and Cambodia and hold discussions to swiftly implement the trade accords within the year.

Leading up to the effectuation, the industry ministry will revamp related regulations and promote the trade deals to the Korean people.