Since the Regional Comprehensive Economic Partnership (RCEP) came into effect on January 1, 2022, it has brought significant trade development opportunities for Cambodia. In the first half of 2024, Cambodia's bilateral trade with RCEP member countries reached $16.9 billion, accounting for 64% of the country's total trade. Exports grew by 11% and imports by 15.3%, becoming a key driver of Cambodia's economic growth. Cambodia's Ministry of Commerce stated that RCEP not only promotes regional trade cooperation but also helps attract more foreign investment into the country. This will facilitate Cambodia's ambitious goals of becoming an upper-middle-income country by 2030 and a high-income country by 2050. RCEP has undoubtedly injected new momentum into Cambodia's economic development.
