The President of the Cambodian Chamber of Commerce stated that the Regional Comprehensive Economic Partnership (RCEP) and bilateral free trade agreements (FTAs) present significant opportunities for Cambodia's development. They explained that in addition to the 15-member RCEP, Cambodia has signed FTAs with China, South Korea, and the UAE, ensuring easy access to major Asian markets. The President highlighted Cambodia's strategic location at the heart of Southeast Asia, rapid infrastructure development, and competitive labor costs, making it an attractive manufacturing and export hub. They projected Cambodia's economic growth to rise from 5% in 2023 to 6% in 2024, driven by the RCEP and FTAs. aims for Cambodia to become an upper-middle-income country by 2030 and a high-income country by 2050.
