Cambodia Committed to Host RCEP Secretariat

The Kingdom of Cambodia has expressed its commitment to host the secretariat of the Regional Comprehensive Economic Partnership (RCEP).

In his remarks at the opening ceremony of the 54th ASEAN Economic Ministers’ Meeting and Related Meetings in Siem Reap provincial city this morning, Samdech Akka Moha Sena Padei Techo Hun Sen, Prime Minister of the Kingdom of Cambodia and Chair of ASEAN for 2022, laid stress on the need to maximise the benefits of RCEP, which was generally entered into force on Jan. 1, 2022, and existing ASEAN plus one agreement with further upgrading in order to promote the regional economic growth.

Regarding maximising the benefit of RCEP agreement, he said, member states should make the utmost effort in implementing commitments and continue the negotiations on opening up the markets, aimed to attract other big economies to participate in this agreement. In this regard, this agreement should have its independent and authoritative secretariat that plays a key role in coordinating, promoting, and monitoring the implementation of this agreement.

“Cambodia remains interested, and offers all possibilities and concessions to host this secretariat,” the Prime Minister underlined.

Besides, Samdech Techo Hun Sen called on ASEAN to devote more attention is to timely respond to the new trends in global trade architecture. Certainly, new issues include: rising oil price crisis, high inflation rate, environment, climate change, pandemics, etc. has triggered the trend of regional and global trade to move toward the new normal; however, this does not mean that all these challenges require countries across the world to use them as protectionism tool, create trade barriers, and disrupt the regional and global supply chains, or establish law and international agreements that serve its own interests or small group of their allies, he explained.

“In this regard, ASEAN should continue to work in unity to coordinate and intensify the establishment of global framework for international trade which is transparent, non-discriminatory and serve the interest of all countries,” he said.

On the other hand, Samdech Techo Hun Sen mentioned once again about Cambodia’s initiative to establish ASEAN Green Deal, which, he believed, will enable the ASEAN region to gradually transform toward green future with sustainability, resiliency, efficient utilisation of resource, and economic competitiveness.

Source: Agency Kampuchea Press