PHNOM PENH, Dec. 6 (Xinhua) — On Tuesday (Dec. 5), Cambodia’s Ministry of Commerce Reported value of merchandise exports to member countries of the Regional Comprehensive Economic Partnership (RCEP) during January-October of this year totaled 6.45 billion US dollars (approximately 225 billion baht).
The report indicates that the value of the above exports increased 26.5 percent from the same period last year. The top 5 export destinations for Cambodia under the agreement In the first ten months of this year, these include Vietnam, China, Japan, Thailand and Singapore.
The agreement includes 15 Asia-Pacific countries, including ten ASEAN member states (Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam) and five trading partners (China, Japan, South Korea, Australia and New Zealand).
The ministry stated that the agreement which will come into effect in 2022, is considered to be a catalyst for long-term export growth. by Cambodia’s exports to members of the agreement It will continue to increase throughout this year and beyond. with the benefit of the reduction in customs duties under the agreement
The agreement is coupled with other bilateral free trade agreements. And the Belt and Road Initiative (BRI) will help Cambodia reach its goal of becoming an upper middle-income country by 2030 and a high-income country by 2050.
Related news:
#Cambodia #reveals #exports #RCEP #members #increased #months
2023-12-07 06:04:53
