Cambodia's trade with fellow RCEP members up 13.9 pct in first 4 months

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PHNOM PENH, May 15 (Xinhua) -- Cambodia's trade with the other member countries of the Regional Comprehensive Economic Partnership (RCEP) hit 11.19 billion U.S. dollars in the first four months of 2024, up 13.9 percent from 9.82 billion dollars in the same period last year, said a Ministry of Commerce report released on Wednesday.

The country's trade volume with fellow RCEP members accounted for 66.2 percent of its 16.9-billion-dollar total trade volume during the January-April period this year, the report said.

The Southeast Asian country exported products worth 3.36 billion dollars to other RCEP countries during the first four months, up 16.2 percent from a year earlier, it said.

Meanwhile, Cambodia reported the import of goods worth 7.83 billion dollars from other RCEP countries, up 13 percent year on year, it added.

The country's top five trading partners under the regional mega-trade pact are China, Vietnam, Thailand, Japan, and Singapore, the report added.

Ministry of Commerce's Secretary of State and Spokesperson Penn Sovicheat said the RCEP is a catalyst for the kingdom's trade growth and a magnet to attract more foreign direct investments.

"Despite rising protectionism and weakening global demand, the RCEP has given a boost to regional trade cooperation, bringing tremendous benefits to all member countries," he told Xinhua.

Sovicheat said the RCEP would support the region's long-term sustainable trade growth, contributing to enhancing regional peace, stability, harmony, development, and prosperity.

Taking effect from 2022, the RCEP comprises 15 Asia-Pacific countries including 10 ASEAN (Association of Southeast Asian Nations) member states - Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam - and their five trading partners, namely China, Japan, South Korea, Australia and New Zealand. Enditem

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