The figures were shared by H.E. Mrs. Cham Nimul, Minister of Commerce of Cambodia, while presiding over the opening ceremony of the two-day “Sousdey Indonesia” expo, held at Koh Pich Convention and Exhibition Centre late last week.

With creative initiative such as Sousdey Indonesia as well as strong cooperation between the two government in new trade activities, H.E. Minister showed full confidence that 2024 will be even more substantial.

H.E. Mrs. Cham Nimul took the opportunity to encourage the private sector to join and organise theme events more frequently, both in Cambodia and in Indonesia, exploring potentials, untapped opportunities, and new partnerships.

She expressed appreciation and congratulated Indonesian Ambassador to Cambodia H.E. Santo Darmosumarto, the Embassy of the Republic of Indonesia in Phnom Penh and relevant stakeholders for organising “Sousdey Indonesia,” which has been a steadfast event in Phnom Penh since 2006, making this 2024 the 15th anniversary, which also marks the 65th anniversary of diplomatic relations between Cambodia and Indonesia.

The post Cambodia-Indonesia Bilateral Trade Exceeds US$1 Billion in 2023 first appeared on Estatedia | Economy & Real Estate Media in Cambodia.

Thailand topped the list of foreign arrivals to Cambodia during the said period with 1,147,534 visitors, the source added, stressing that Vietnam, China, Lao PDR, the U.S., the Republic of Korea, Indonesia, France, the United Kingdom, and Japan were among the top ten market arrivals in the January-July 2024 period.

Some 1.34 million foreign visitors, or about 36 percent of the total foreign arrivals, arrived in Cambodia by air, a year-on-year increase of 26.4 percent, and the rest via land border gates and waterways, up 21.5 percent, the report continued.

Phnom Penh capital was the most attractive tourism destination for foreign tourists, followed by Siem Reap cultural province and the coastal zone, it underlined.

At the same time, the ministry reported that the number of Cambodia’s outbound tourists rose by 5.9 percent to 1,069,078.

Mr. Thim Sereyvuth, Acting Director of the Siem Reap Provincial Department of Tourism told AKP on Aug. 23 that Siem Reap province is keen to see more tourists as their visits will contribute to the country’s economic growth and local development.

Tourism is one of the four pillars supporting Cambodia’s economy, in addition to garment, footwear, and travel goods exports; agriculture; and the construction and real estate sectors.

Last year, the Kingdom received some 5.45 million foreign visitors, earning a gross revenue of US$3.08 billion. AKP

The post Over 3.74 Million Foreign Tourists Visit Cambodia in Seven Months first appeared on Estatedia | Economy & Real Estate Media in Cambodia.

The country’s trade volume with fellow RCEP members accounted for 63 percent of its total trade volume during the January-July period this year, the report said.

The kingdom exported products worth 5.2 billion dollars to RCEP countries, up 13.2 percent, while it recorded the import of goods worth 14.67 billion dollars from RCEP countries, up 18 percent, the report added.

The Southeast Asian nation’s top five trading partners under the regional mega-trade pact are China, Vietnam, Thailand, Japan and Singapore, according to the report.

Entering into force in 2022, 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, namely China, Japan, South Korea, Australia and New Zealand.

Cambodian Ministry of Commerce’s Secretary of State and spokesperson Penn Sovicheat said RCEP is a driving force for Cambodia’s trade growth and a magnet to attract more foreign direct investments to the kingdom.

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

“With preferential tariffs granted by the RCEP agreement, there’s no doubt that our export to RCEP countries will continue to rise throughout this year and beyond,” he said.

the RCEP free trade agreement came into effect in January 2022. It encompasses 15 Asia-Pacific nations, including the 10 ASEAN member states (Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam) and five additional trading partners (China, Japan, South Korea, Australia, and New Zealand).

The agreement offers Cambodia preferential tariffs on various exports, including agricultural products, processed goods, and industrial items. Additionally, Cambodia benefits from knowledge and technology transfer, skill development, and foreign direct investment that creates new jobs. (Xinhua)

The post Cambodia’s trade with RCEP countries hits almost 20 bln USD in 7 months first appeared on Estatedia | Economy & Real Estate Media in Cambodia.

Meanwhile, ACLEDA Securities Plc. (“ACS”) has taken a significant step forward in Cambodia’s capital markets by obtaining approval from the Securities and Exchange Regulator of Cambodia (“SERC”) to act as a “Distributor Company” for this Collective Investment Scheme (“CIS”) funds.

The inauguration was presided over by H.E. Sou Socheat, Delegate of the Royal Government in charge as Director-General of Securities and Exchange Regulator of Cambodia (SERC), Dr. Prom Visoth, Director of ACS, Oknha Sen Pisethvannida, Director of BAMC and other investors from various sectors.

“The establishment the Collective Investment Scheme (CIS) fund in Cambodia has been a result of careful planning and consideration by the SERC,” said H.E. Sou Socheat.”Through research and experience from various countries and international organizations like IOSCO, and based on the roadmap of Cambodia’s financial sector development strategy (2011-2020 and the updated 2016-2025 version), SERC has been instrumental in shaping this initiative.”

This milestone was achieved on February 6th, 2024, making ACS the first official CIS Fund Distributor in the Kingdom.

ACS further announced it received approval to commence distribution of the BAMC Asia Equity Fund (“BAEF”) on July 12th, 2024. This paves the way for Cambodian investors to access global markets through regulated CIS funds, a development applauded by both ACS and BAMC.

Banjaran Asset Management (Cambodia) PLC (“BAMC”) had already secured SERC approval to launch the BAEF last November. The company received the final green light for fund registration on July 15th, 2024, allowing BAEF to begin investing and reflecting the underlying asset valuation in its daily pricing. This cooperation between ACS and BAMC signifies a turning point for Cambodia’s capital markets, aligning them more closely with international trends.

As Dr. Prom Visoth, Director of ACS, stated: “We are pleased to collaborate with BAMC, pioneering this new development within Cambodia’s Capital Market sector. Following our research visit to Singapore, we recognize this as a natural evolution in the securities industry. We hope that our partnership will contribute to Cambodia’s continued growth and progress.”

Oknha Sen Pisethvannida, Director of BAMC, echoed this sentiment, highlighting the ease of access for investors: “We are honored to be able to work with ACLEDA Group on the distribution of BAEF. This final piece will allow investors to approach any ACS branch to buy and sell units in our daily traded BAEF.”

The introduction of CIS funds brings a layer of security and transparency to Cambodian investment opportunities. As the press release mentions, “CIS funds are highly regulated and investments made within the funds are subjected to multiple checks and balances by independent parties.

Periodic reports are given to investors to ensure transparency.” This aligns perfectly with Cambodia’s mission to ensure financial stability within the financial sector. Both BAMC and ACS aim to establish a new standard for responsible investment practices in Cambodia.

ACLEDA Securities Plc. (“ACS”)
ACS is a wholly-owned subsidiary of ACLEDA Bank Plc. and provides a range of services including Securities Brokerage, Securities Selling Agent, Bondholders Representative and Fund Distribution to individual and institutional customers, investors and the public. ACS has won the Best Securities Broker Award numerous times by the Cambodia Securities Exchange (“CSX”).

Banjaran Asset Management (Cambodia) PLC (“BAMC”)
BAMC was incorporated in the Kingdom of Cambodia in 2022 and holds a fund management license issued by the SERC to establish and manage public fund of collective investment scheme. BAMC is a joint venture between Banjaran Holdings Pte Ltd from Singapore, Best Magnet Capital Co., Ltd and Primo Plus Co., Ltd. Banjaran Holdings and BAMPL are related companies.

BAMC Asia Equity Fund (“BAEF”)
The BAEF is a unit trust fund that invests in stocks listed in major stock exchanges in Asia Pacific Ex-Japan. It aims to deliver an expected return of 7-10%* per annum over the medium to long term. The Fund is expected to be diversified with at least 30 stocks across Asia (eg. Singapore, Hong Kong/China, Australia, Thailand, Malaysia, Indonesia, Philippines etc.) and across various sectors (eg. Banking, Property, Industrials, Consumer, Telecoms, Technology, etc.). The Fund is domiciled in the Kingdom of Cambodia and is USD-denominated. The Fund will accept subscriptions and redemptions daily and the daily unit price of the Fund will be available on various media channels.

The post Cambodia Opens Up Investment Landscape with First CIS Fund Distributor and Launch of BAEF first appeared on Estatedia | Economy & Real Estate Media in Cambodia.

On July 10, 2024, HE. Nuth Un Vanra, Deputy Secretary General of the Cambodian Investment Committee of the Council for the Development of Cambodia (CDC) met with representatives from SUN WAH PROPERTIES (CAMBODIA) CO., LTD. to discuss potential investment opportunities in the EV sector. The meeting followed a recent expression of interest from the Sunwah Group, a major conglomerate, to explore investments in various Cambodian sectors, including EV assembly.

Cambodia is offering a conducive investment climate for the EV industry, with supportive legal frameworks, policies, and incentives. The government has outlined its vision for the sector in the National Policy on Electric Vehicle Development 2024-2030. Additionally, tax breaks and other benefits are available to investors in this field.

The growing popularity of EVs in Cambodia is evident from the increasing number of registrations. As of now, over 2,900 electric vehicles are officially registered in the country, with BYD, TOYOTA, and TESLA leading the market. The government is also working to expand charging infrastructure to support the EV transition.

By attracting investments in EV assembly, Cambodia aims to create jobs, diversify its economy, and contribute to a greener future. The CDC is committed to providing support and facilitating investments in this promising sector.

Another Great News: BYD’s Commitment to Cambodia

In a significant development, BYD Asia Pacific Auto Sales Division has announced plans to construct an electric vehicle assembly plant in Cambodia. The facility, with an annual production capacity of 20,000 vehicles, will cater to both the domestic market and export destinations. This investment underscores Cambodia’s growing attractiveness as a manufacturing base for the EV industry.

BYD, a global leader in electric vehicle technology, has a proven track record and a strong presence in Asia. With manufacturing and assembly plants in China, Thailand, India, and Indonesia, the company brings substantial expertise and resources to Cambodia.

With the EV industry poised for exponential growth in Cambodia, now is the ideal time for investors to seize the opportunities presented by this dynamic sector.

The post Cambodia Eyes Electric Vehicle Assembly as Investment Opportunity first appeared on Estatedia | Economy & Real Estate Media in Cambodia.

The OECD-FAO Agricultural Outlook for 2024-2033 — released simultaneously in Paris and Rome on Tuesday — says the increase from current levels is expected to be driven by better yields.

ROBUST GROWTH IN ASIAN PRODUCTION

“Production expansions in Asian countries, which account for the bulk of global rice output, are expected to be robust,” it says.

The sharpest growth is expected to be in India, which is forecast to overtake China to become the world’s largest rice producer by 2033. China is projected to rank second followed by Indonesia, Thailand and Vietnam.

In terms of exports, shipments of rice from South and Southeast Asia are projected to grow at an annual pace of 2.8 percent over the coming decade — allowing the region’s share in global exports to expand to 86 percent.

“More than half of the growth in rice exports is attributed to (least developed countries) such as Myanmar and Cambodia with a further 25 percent coming from Thailand and 12 percent from Vietnam,” the outlook says.

CAMBODIA, MYANMAR TO CAPTURE ’GREATER SHARE OF ASIAN AND AFRICAN MARKETS’

Cambodia and Myanmar “are projected to register strong export expansion, with their rice shipments collectively increasing by 146 percent from 4.3 million tonnes in the base period to 10.5 million tonnes by 2033 amid expectations that large exportable supplies will allow these countries to capture a greater share of Asian and African markets.”

On prices, the outlook notes that global wheat and corn prices continued falling last year after hitting near-record and record highs in 2022 following Russia’s military offensive into Ukraine.

“In contrast, 2023 proved more tumultuous for the global rice market,” it says.

“International rice prices soared to a 15-year peak, spurred initially by apprehensions regarding the adverse production effects of El Niño and by a step-up of export restrictions by India in July and August 2023.

INDIAN EXPORT RESTRICTIONS

“Since then, further price increases have been averted by signs that the actual impact of El Niño on global rice production would be less severe than expected, combined with sizeable exceptions to export restrictions approved by India and a step-up of shipments by other exporters.

“Nevertheless, reflective of the lingering uncertainties surrounding trade policies and weather conditions, in March 2024, international rice prices remained high and about 14 percent above their year-earlier levels.”

The outlook finds that the “increasingly significant rice export roles” of Cambodia and Myanmar — along with Pakistan — reflect a reaction to India’s restrictions on exports last year.

“These restrictions are assumed to remain in place throughout the projection period, but their effects are assumed to be partly mitigated by exceptions approved by the Indian Government since instituting them on food security grounds,” it says.

SHIPPING DISRUPTIONS POSE ‘MAJOR RISK’

The outlook notes that a “substantial share” of South and Southeast Asia’s trade in agricultural commodities takes place within the region.

But “the combination of disruptions to major shipping routes such as water level constraints in the Panama Canal and the conflict in the Red Sea that is affecting transit through the Suez Canal is a major risk,” it says.

“While the conflict remains, trade from Southeast Asia into Europe and North Africa will have to reroute away from Suez Canal around the Cape, adding time and costs to shipping that can be disruptive to supply chains.”

The post OECD-FAO Forecast Shows Rice Exports by Cambodia and Myanmar Skyrocketing over Coming Decade first appeared on Estatedia | Economy & Real Estate Media in Cambodia.

This strong export performance translates to RCEP countries accounting for a significant portion of Cambodia’s overall trade. RCEP exports made up 39% of the Kingdom’s total trade value of US$10.18 billion during the five-month period.

Overall trade between Cambodia and RCEP members also saw a significant rise, reaching US$14.17 billion, reflecting a 14.2% increase. This translates to RCEP trade representing a substantial 65.57% of Cambodia’s total international trade valued at US$21.61 billion.

For reference, the RCEP free trade agreement came into effect in January 2022. It encompasses 15 Asia-Pacific nations, including the 10 ASEAN member states (Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam) and five additional trading partners (China, Japan, South Korea, Australia, and New Zealand).

The agreement offers Cambodia preferential tariffs on various exports, including agricultural products, processed goods, and industrial items. Additionally, Cambodia benefits from knowledge and technology transfer, skill development, and foreign direct investment that creates new jobs.

H.E. Sok Siphana, Senior Minister in Charge of International and Multilateral Trade and Economic Relations, previously highlighted RCEP’s positive impact on Cambodia’s economic growth. He emphasized the agreement’s role in providing wider market access for Cambodian products and contributing to the country’s sustainable economic development in the long run.

The post Cambodia Exports Nearly $4 Billion to RCEP in First Five Months first appeared on Estatedia | Economy & Real Estate Media in Cambodia.

Cambodia is a member of the RCEP agreement that engaged with 15 Asia-Pacific countries, and the kingdom also has bilateral FTAs with China, South Korea and the United Arab Emirates.

“On the back of the implementation of the RCEP agreement and other bilateral FTAs, Cambodia is expected to attract more FDI inflows and expand its exports to the region,” she said in a speech during the opening ceremony of a seminar on Cambodia’s financial stability.

These trade pacts will help boost Cambodia’s productivity and promote its economic diversification, Serey said, adding that the kingdom’s economy is forecast to grow 6 percent in 2024, up from 5 percent in 2023, driven by a rise in exports, recovery in tourism, robust growth in transport and communication, and flat growth in agriculture.

Cambodia approved the fixed asset investment of 2.5 billion U.S. dollars in the first four months of 2024, which will create approximately 130,000 jobs, said a government’s report.

On the trade side, the Southeast Asian country exported products worth 8 billion dollars during the January-April period this year, up 15.2 percent from 6.94 billion dollars over the same period last year.

The Cambodian Ministry of Commerce’s Secretary of State and Spokesperson Penn Sovicheat said the RCEP agreement and bilateral FTAs will help Cambodia realize its ambitious goals of becoming an upper-middle income country by 2030 and a high-income nation by 2050.

“These trade pacts have not only given a boost to Cambodia’s sustainable trade growth in the long run, but also become a magnet to attract more FDIs to the kingdom,” he told Xinhua.

RCEP comprises 15 Asia-Pacific countries including the 10 ASEAN (the Association of Southeast Asian Nations) member states of 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.

Kin Phea, director general of the International Relations Institute of Cambodia, a think tank under the Royal Academy of Cambodia, said besides these free trade agreements, China’s Belt and Road Initiative has laid a solid foundation for Cambodia’s socioeconomic development in the long term.

“Under the BRI framework, China has heavily invested in infrastructure projects such as highways, bridges, expressways, hydropower plants, special economic zones, seaports, and airports,” he told Xinhua. “These BRI flagship projects have significantly impacted Cambodia’s development agenda, brought opportunities for Cambodia to get rid of poverty, and promoted mutual benefit and win-win results, which are deeply rooted in the hearts of the people.”

Phea said these large-scale projects have greatly contributed to promoting connectivity, securing the sustainable source of electricity supply, enhancing economic competitiveness, diversifying sources of growth, and reducing logistics costs in Cambodia.

“Among flagship projects in Cambodia under the BRI, I have been impressed by the Sihanoukville Special Economy Zone, the Phnom Penh-Sihanoukville Expressway and the Siem Reap Angkor International Airport,” he said. ■ Xinhua

The post RCEP, FTAs to help Cambodia Attract More FDIs, Boost Exports first appeared on Estatedia | Economy & Real Estate Media in Cambodia.

After reaching 5.3 percent in 2022, Cambodia’s annual rate of inflation dropped to 2.1 percent last year and is forecast at 2.0 percent this year.

That compares with 20.0 percent in Laos, 15.5 percent in Myanmar. 4.0 percent in Vietnam, 3.8 percent in the Philippines, 3.0 percent in Singapore, 2.8 percent in Indonesia and 2.6 percent in Malaysia. The only ASEAN members where prices are expected rise less than Cambodia are (Brunei 1.1 percent) and Thailand (1.0 percent).

CONSUMER PRICES

In Cambodia, the most closely-watched measure of inflation is consumer prices.

The National Institute of Statistics monitors the prices of consumer goods and services, publishing an overall consumer price index (CPI) every month.

It also publishes separate indexes for particular items. These measure how much consumers are paying for things ranging from food, clothing, water, and electricity to health, transport, communications and education.

For example, the overall consumer price index in February this year was 0.7 percent higher than the same month last year.

The biggest gains were in the cost of transport, up 2.4 percent from February last year, and restaurant prices, which rose by 1.1 percent. These were offset by smaller increases for other items like communications, up only 0.1 percent.

HOUSING PRICES

With the boom in real-estate transactions in recent years, the National Bank of Cambodia launched a housing price index in mid-2022

Known as the residential property price index (RPPI), this new index — like the CPI — has a measure of overall prices, in this case for housing nationwide.

Data is based on details of housing loans by Cambodian domestic banks.

At 109 points in June 2022, the overall index for Phnom Penh and the provinces was 9 percent higher than 2020 when it averaged 100 points.

The index rose to a peak of 116 points in the middle of last year — 16 percent above the average for 2020 — before retreating to around 112 points at the end of 2023, where it remained early this year.

Unlike the CPI, the housing index has only two sub-indexes — one for Phnom Penh and another for the provinces. But this may be about to change.

NATIONAL BANK CONCERNS

According to the International Monetary Fund (IMF), central bank staff recently “raised concerns about the trajectory of the price index” and asked for a review of the methods and software used.

The IMF accordingly sent a technical mission to Phnom Penh for five-days in January.

The team was led by Barra Casey, a senior economist at the IMF in Washington where he specializes in real-estate statistics.

Casey is a former central banker, with solid experience in the real-estate sector. He previously worked at the Bank of Ireland — a country whose property bubble burst in 2008, paving the way for a commercial banking crisis as the “Celtic Tiger” economy crashed.

During the mission to Phnom Penh, the team met with nine NBC staff including Dr. Khou Vouthy, deputy director-general for policy and international cooperation, and his deputy Mr. Ith Hero, who also heads the central bank’s Statistics Department.

Casey’s report, published on May 3, shows that concerns about the index’s trajectory were justified.

As an example, it looks at the overall housing price index for the 18 months to June 2021.

The data published shows an increase of 16 percent. But updated data indicate that the index rose by only 11 percent — indicating the price increases were being overestimated.

‘VERY TIMELY’

The IMF review found that the central bank’s monthly survey is based on hundreds of housing loans. The average monthly number was 880 last year, down from 1,260 in 2022.

NBC publication of the data is “very timely,” the report said. The central bank receives the data 10 days after the reference month and checks are normally completed by the 20th day, allowing publication at the start of the next month.

For example, data for May would typically be received by June 10, checked by June 20 and published in early July.

Information on houses includes the price, location and size as well as the type of property, the title, the number of floors and the date of construction.

INFORMATION GAPS

Monthly surveys do not cover loans by foreign banks. Cash purchases are also not included. Nor are purchases financed by loans by property developers.

The surveys also exclude apartments. One reason is that purchases of apartments — at least on upper floors, not the ground floor — are largely by foreigners with loans likely to be financed by foreign banks.

To get a better idea of the total size of the market, the IMF recommended that the national bank combine its loan data with information from other sources like the General Department of Taxation under the Ministry of Economy and Finance.

“The NBC should devise a longer-term strategy to close the gap in coverage by researching new data sources,” the report said.

Given that it “may not be able to readily access transaction-level data from administrative sources, it was felt that listings information from real-estate websites may be the best option to research initially.”

For the medium term, the report urged the central bank to continue to use existing bank loan data — supplemented by additional data from micro-financial institutions which it has already started collecting. This is mainly for housing transactions in the provinces.

BROADER COVERAGE OF PHNOM PENH

During the IMF mission, it was decided to amend loan criteria by lowering the minimum land area from 40 to 20 square meters.

It was also found that loans to property developers should be excluded as funds are used for purchasing materials and paying builders rather than buying a residential property.

The biggest change discussed in detail was extending the geography of the sub-indexes, currently limited to Phnom Penh and outside the capital.

With “sufficient observations within Phnom Penh”, the IMF recommended dividing the capital into three areas — Central and East Phnom Penh (eight khans), Inner Suburbs (four khans) and Outer Suburbs (four khans).

DECEMBER DEADLINE

The IMF urged updated indices to be calculated and compared with published data by June. Improved methods could then be included in compiling the housing price indexes by December after deciding whether or not to revise the old data going back to 2020.

The IMF report also recommended that the NBC website publish details of the new method for calculating the indices.

Cambodian authorities are “strongly committed to making improvements to the methodology,” the IMF team found.

“Reliable property price indices and other indicators of real estate markets are essential for the assessment of developments and risks in property markets and understanding the linkages between property markets and financial soundness.”

And essential for the IMF’s country surveillance too, of course.

The post National Bank of Cambodia Reviews Measure of Housing Prices first appeared on Estatedia | Economy & Real Estate Media in Cambodia.

The figures were shared by the Ministry of Commerce in a report released on Wednesday, adding that at the same time, the Kingdom imported US$7.83 billion worth of products from the RCEP countries, up 13 percent from US$6.93 billion.

Cambodian exports to RCEP countries accounted for 44.57 percent of the Kingdom’s total exports of US$8.82 billion in the four-month period, it pointed out.

Cambodia’s two-way trade with RCEP rose by 13.98 percent to US$11.19 billion, or 66.2 percent of the country’s total international trade of US$16.91 billion, stated the report.

Cambodia’s trade with RCEP countries has increased thanks to trade preferences under the mega-regional trade pact, said H.E. Penn Sovicheat, Secretary of State and Spokesperson of the Ministry of Commerce.

“With almost zero trade tariffs, exporters have been able to take advantage of the trade deal, resulting in increased exports and imports from Cambodia,” he said.

The RCEP free trade agreement entered into force on Jan. 1, 2022. The regional trade pact comprises 15 Asia-Pacific countries including the ten Member States of the Association of Southeast Asian Nations (ASEAN) — 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.

RCEP nations collectively represent about 2.2 billion people, or 30 percent of the global population, contributing US$26.2 trillion to the gross domestic product (GDP), which is 30 percent of the worldwide GDP. Member countries account for approximately 28 percent of global trade, according to the ministry.

The post Cambodia’s Exports to RCEP Countries Up 16 Percent in 4 Months first appeared on Estatedia | Economy & Real Estate Media in Cambodia.