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Cambodia’s trade with RCEP countries up 11 pct in 9 months: ministry

  • Nov 03, 2022

Cambodia’s trade with Regional Comprehensive Economic Partnership (RCEP) member countries was valued at 24 billion U.S. dollars in the first nine months of 2022, up 11 percent from the same period last year, the Ministry of Commerce said in a report on Wednesday.

Cambodia’s export to RCEP member countries reached 4.7 billion dollars during the January-September period this year, up 6 percent, while its import from RCEP member countries totaled 19.3 billion dollars, up 12 percent, the report said.

The kingdom’s top five trading partners under the RCEP are China, Vietnam, Thailand, Singapore and Japan, the report said.

Ministry of Commerce’s undersecretary of state and spokesman Penn Sovicheat said that the RCEP is a key instrument to boost economic recovery in Cambodia and in the region.

“This regional mega-trade deal is very beneficial to Cambodia as it has provided the country bigger market access with tariff concessions,” he told Xinhua. “For the long term, it will be a main driving force for our economic growth.” Xinhua