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The Regional Comprehensive Economic Partnership (RCEP) agreement, which took effect last year, has given an extra boost to trade exchanges in the region, a Cambodian senior official and experts said on Saturday.

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The Regional Comprehensive Economic Partnership agreement has been a key driving force for the kingdom's export growth and a magnet to attract more FDI inflows to the country, said Cambodian Ministry of Commerce's Secretary of State Penn Sovicheat.

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Japan is a market with a large demand for imported agricultural, forestry and fishery products. This is also a potential market for Vietnamese agricultural products to expand in the coming time.

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Just a few months after it came into being, the Regional Comprehensive Economic Partnership has decided to expand its membership, with Vietnam expected to be a big trade beneficiary.

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The Association of Southeast Asian Nations (ASEAN) welcomes the Hong Kong Special Administrative Region (HKSAR)'s interest in participating in the Regional Comprehensive Economic Partnership (RCEP), Secretary-General of ASEAN Kao Kim Hourn said, and it's likely that the HKSAR will be able to join the RCEP in the near future, Hong Kong media outlet mingpao.com reported on Monday.

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Hong Kong Special Administrative Region (HKSAR) Chief Executive John Lee Ka-chiu started his visit to Singapore, Indonesia and Malaysia on Sunday, seeking more cooperation opportunities with these three ASEAN members while winning their support for Hong Kong's accession to the Regional Comprehensive Economic Partnership (RCEP).

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The IMF projects a downtick in global economic growth - a mere 2.8 percent for 2023. The Asia-Pacific region, once hailed as the economic dynamo that drove the recovery post-2008, is faring no better. Its growth rate is languishing at around 4 percent for both 2023 and 2022, a significant decrease from 6.5 percent in 2021. The path to global economic recovery, it appears, is far from straightforward.

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RCEP to offer new avenues of economic growth for Cambodia

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Many Japanese economic experts have recommended making the 50th anniversary of Vietnam-Japan diplomatic ties a milestone to bring the two countries' relations into a new era by promoting private investment in the nation by Japanese enterprises towards common prosperity between both nations.

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The Regional Comprehensive Economic Partnership (RCEP) officially entered into full force on June 2, 2023. This event marks the full effect of this Agreement for the 15 signatories.

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