Phnom Penh: Four years on, the Regional Comprehensive Economic Partnership (RCEP) agreement continued to be a driving force for Cambodia's trade growth, a Cambodian official and experts said yesterday.
According to Nam News Network, Cambodia's trade volume with the RCEP member countries amounted to 40.24 billion U.S. dollars in 2025, signifying a year-on-year increase of 16.2 percent, as reported by the Ministry of Commerce. The country's export to fellow RCEP member countries reached 9.8 billion dollars last year, reflecting a year-on-year rise of seven percent, while its import from these countries was valued at 30.44 billion dollars, up by 19.5 percent.
The report further highlighted that the RCEP remained the major market for Cambodia, accounting for 61.6 percent of the kingdom's total trade volume of 65.24 billion dollars in 2025. Cambodia's top five trading partners under the RCEP include China, Vietnam, Thailand, Japan, and Singapore.
Entered into force on January 1, 2022, the RCEP comprises 15 Asia-Pacific countries, including 10 ASEAN member states—Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam—and their five trading partners: China, Japan, South Korea, Australia, and New Zealand.
Cambodian Ministry of Commerce's Secretary of State and Spokesperson, Penn Sovicheat, stated that the world's largest free trade deal has played a crucial role in boosting trade growth for Cambodia, the region, and the world. He emphasized that the RCEP serves as a driving force for Cambodia's long-term trade growth and acts as a magnet to attract more foreign direct investment to the country.
Thong Mengdavid, deputy director of the China-ASEAN Studies Centre of the Cambodia University of Technology and Science, noted that the RCEP has unleashed its transformative potential in spurring Cambodian and regional economic growth, enhancing trade liberalization, and fostering deeper integration among its members. Over the past four years, tariffs on over 90 percent of goods traded among member countries have been gradually eliminated or significantly reduced, facilitating cost savings for businesses and consumers alike.
Kin Phea, director general of the International Relations Institute of Cambodia, a think tank under the Royal Academy of Cambodia, remarked that RCEP has served as a stabilizing force, fostering economic integration across the Asia-Pacific region amidst the U.S.'s tariff hikes. In a world grappling with protectionism and geopolitical rivalries, RCEP stands as a testament to the enduring value of cooperation, he told Xinhua.