An aerial photo taken on June 24, 2022 shows the Phnom Penh-Sihanoukville highway project in Kampong Speu province, Cambodia. (Photo credit: Li Zhen/Xinhua)
The Regional Comprehensive Economic Partnership (RCEP) Trade Agreement, the Cambodia-China Free Trade Agreement (CCFTA) and the Belt and Road Initiative (BRI) are strong foundations for Cambodia and China to expand cooperation in the fields of economy, trade and investment. has been built. a Cambodian official said.
PHNOM PENH, Jan. 7 (Xinhua) — The Regional Comprehensive Economic Partnership (RCEP) trade agreement and the Belt and Road Initiative (BRI) are playing a key role in boosting Cambodia’s socio-economic and trade development, it said. Officials said here on Friday.
Khao Kosar, Director General of Trade Promotion, Ministry of Commerce of Cambodia, said RCEP, the Cambodia-China Free Trade Agreement (CCFTA) and the Belt and Road Initiative are a strong foundation for Cambodia and China to expand cooperation in the economic field. said to have built , trade and investment fields.
“They have brought and will continue to provide great benefits to Cambodia’s socio-economic development,” he said at the Cambodia-South China Guangxi Zhuang Autonomous Region Business Forum in Phnom Penh.
“The Belt and Road Initiative has created a new impetus for global economic growth,” he said. “For Cambodia, the Belt and Road Initiative has played an important role not only in economic and trade growth, but also in promoting infrastructure development.”
An aerial photo taken on July 16, 2022 shows the Phnom Penh-Sihanoukville highway project in Preah Sihanouk province, Cambodia. (Photo credit: Li Zhen/Xinhua)
Suon Sopal, director general of public relations and private investment promotion at the Council for the Development of Cambodia, said RCEP, CCFTA, Belt and Road, and Cambodia’s favorable investment laws are key factors attracting Chinese investors to Southeast Asia. said. nation.
“With these free trade agreements and Cambodia’s favorable investment laws in place, we believe that more Chinese investors will come and invest in Cambodia in the coming years,” Sofar said.
RCEP consists of 10 ASEAN (Association of Southeast Asian Nations) member countries and 15 Asia-Pacific countries, including 5 trading partners: China, Japan, South Korea, Australia and New Zealand.
Joseph Matthews, senior professor at BELTEI International University in Phnom Penh, said RCEP has brought mutually beneficial cooperation and win-win results for all participating countries.
“RCEP has not only promoted regional economic integration, but also emphasized the unwavering commitment of all member states to free trade and multilateralism,” he told Xinhua.■