The Regional Comprehensive Economic Partnership (RCEP) agreement and bilateral free trade agreements (FTAs) are expected to help Cambodia attract more foreign direct investment (FDIs) and boost its exports, National Bank of Cambodia’s (NBC) Governor Chea Serey says.
The trade pacts will help boost Cambodia’s productivity and promote its economic diversification, Serey adds.
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.
The country’s economy is forecast to grow 6% in 2024 (5% in 2023), driven by a rise in exports, recovery in tourism, robust growth in transport and communication, and flat growth in agriculture.
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