RCEP to boost Cambodia’s exports by 9-18% annually: Commerce minister

The Regional Comprehensive Economic Partnership (RCEP) will boost Cambodia’s export by 9.4-18 per cent annually, contributing to up to 3 per cent annual economic growth, according to the country’s minister of commerce Pan Sorasak. He was addressing a recent workshop on the partnership’s regional consequences and challenges in the ASEAN region.

The country’s export is expected to rise by at least 9.4 per cent annually under the RCEP, he said citing a study by the Economic Research Institute for ASEAN and East Asia (ERIA).

RCEP covers approximately 30 per cent of the world’s population, accounts for about 30 per cent of global gross domestic product and represents some 28 per cent of global trade.

The Regional Comprehensive Economic Partnership (RCEP) will boost Cambodia’s export by 9.4-18 per cent annually, contributing to up to 3 per cent annual economic growth, according to the country’s minister of commerce Pan Sorasak. He was addressing a recent workshop on the partnership’s regional consequences and challenges in the ASEAN region.

The pact also creates other positive effects, including providing opportunities for redevelopment from the COVID-19 pandemic and post-pandemic structural evolution through job opportunities, investment promotion, and poverty reduction, Sorasak was quoted as saying by Cambodian media reports.

Fibre2Fashion News Desk (DS)