PHNOM PENH: According to major international institutions, full implementation of the RCEP will increase trade by approximately $ 40 billion, increasing real income by 2.5 percent among RCEP members.

Cambodian Prime Minister Samdech Techo Hun Sen confirmed the figures at the High-Level Forum on the 10th Anniversary of the RCEP agreement and the official announcement of the ASEAN and East Asia Economic Research Institute’s new book (ERIA).

PM also stated that in addition to increasing trade activity among members, fully implementing the RCEP assisted in reaching 27 million local people to raise their living standards by 2035. RCEP will have increased global revenues to $263 billion.

According to an ERIA study conducted in early 2022, Cambodia’s GDP could increase between about 2% to 3.8%, while exports will increase between 9.4% to 18%.

ERIA forecasts a 3.2% to 6.2% increase in annual employment opportunities, a 2% to 3.9% increase in annual tax revenue, and a 23.4 percent increase in overall investment in a year.