Phnom Penh: Cambodian exports to the member countries of the Regional Comprehensive Economic Partnership (RCEP) reached more than $6.6 billion during the first eight months of 2025, marking a nearly 10 percent increase compared to the same period last year, according to data released by the Ministry of Commerce.
From January to August 2025, Cambodia exported goods worth $6.63 billion to RCEP partners, reflecting a 9.5 percent year-on-year growth. The top destinations for Cambodian products were Vietnam, China, Japan, Thailand, and South Korea. Imports, however, outpaced exports, amounting to $19.72 billion — a 17 percent increase — with China, Vietnam, Thailand, Singapore, and Indonesia serving as the leading suppliers.
This brought Cambodia’s total trade with RCEP members to $26.35 billion in the first eight months of 2025, up 15 percent compared to the same period in 2024.
RCEP’s Role in Driving Growth
The RCEP, which came into force in Cambodia on January 1, 2022, is the world’s largest free trade agreement, comprising the 10 ASEAN nations along with China, Japan, South Korea, Australia, and New Zealand. Together, the bloc represents about 30 percent of global GDP and a population of 2.2 billion people. Its objectives include tariff reductions, liberalisation of trade in services, and greater investment facilitation, particularly to support developing economies.
Commerce Ministry spokesperson Pen Sovicheat highlighted the agreement’s significance in boosting Cambodia’s trade activity. “The benefits the RCEP brings to Cambodia are substantial, not only in terms of exports but also in expanding global trade, which contributes to both import and export growth among RCEP countries,” he said. Sovicheat also noted that tariff preferences, technology transfer, skills development, and job opportunities linked to foreign direct investment (FDI) are among the major advantages Cambodia enjoys under the agreement.
Addressing concerns over the trade imbalance, Sovicheat stressed that most imports consist of raw materials, components, auto parts, and fuels — key inputs for manufacturing that are re-exported to international markets.
Business Confidence and Investment Attraction
Lim Heng, vice-president of the Cambodia Chamber of Commerce, underscored that both bilateral and multilateral trade agreements are vital to Cambodia’s economic development. “Whether bilateral or multilateral, every trade agreement offers mutual benefits by opening up bigger markets and encouraging more direct investment,” he explained.
He pointed out that Cambodia’s political stability, competitive labour costs, and investment-friendly legal framework continue to attract large international corporations. Although tariff revenues may decline due to the agreement, Heng emphasized that this is offset by increases in tax revenue and overall economic activity.
Outlook
With RCEP members accounting for the majority of Cambodia’s trade volume, the agreement has cemented its role as a key driver of the Kingdom’s economic integration into regional and global markets. As Cambodia leverages tariff advantages and investment flows, officials and business leaders remain confident that the RCEP framework will continue to generate sustainable long-term growth.
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