Cambodia’s trade with Regional Comprehensive Economic Partnership (RCEP) countries rose by 11 percent to US$24,066 million in the first three quarters of this year, the Ministry of Commerce’s statistics showed on Thursday.
In the January-September period, the Kingdom exported a total of US$4,703 million worth of goods to RCEP member countries, a year-on-year increase by 6 percent.
Meanwhile, the Kingdom’s imports from RCEP countries were valued at US$19,363 million, up 12 percent.
RCEP Agreement has contributed to the Cambodia’s export growth, said H.E. Penn Sovicheat, Under-Secretary of State and Spokesperson of the Ministry of Commerce.
“Since entering into force earlier this year, Cambodia’s exports to the RCEP member states have significantly increased,” he said on Thursday.
The RCEP free trade agreement entered into force on January 1, 2022.
The regional trade pact comprises 15 Asia-Pacific countries including 10 member states of the Association of Southeast Asian Nations (ASEAN) — Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam — and their five trading partners, namely China, Japan, South Korea, Australia and New Zealand.
Being the world’s largest trade bloc, the RCEP trade deal has a combined Gross Domestic Product (GDP) of US$26.2 trillion, representing around 30 percent of global GDP, 28 percent of global trade, and 32.5 percent of global investment.
Source: Agency Kampuchea Press